Medallion Financial Q3 net income down 23% YoY; dividend raised 10%

MEDALLION FINANCIAL CORP

2024-Q3 EPS reported $1.09

Net income $8.6M ($0.37 EPS) vs $11.2M ($0.48 EPS) in Q3 2023.
Net interest income up 8% to $52.7M; loan originations $275.6M, up 27% YoY.
Credit loss provision increased to $20.2M from $14.5M, driven by consumer loan growth.
Quarterly dividend raised 10% to $0.11/share, payable Nov 27 to holders of record Nov 15.
Recreation loans grew 15% to $1.6B; home improvement loans up 8% to $814.1M.

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