Marlin Business Services Corp. (NASDAQ:MRLN) Announces Dividend Increase – $0.14 Per Share

Marlin Business Services Corp. (NASDAQ:MRLN) announced a quarterly dividend on Thursday, August 1st, Fidelity reports. Investors of record on Monday, August 12th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, August 9th. This is an increase from Marlin Business Services’s previous quarterly dividend of $0.11.

Marlin Business Services has raised its dividend by an average of 1.9% per year over the last three years. Marlin Business Services has a payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Marlin Business Services to earn $2.63 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 21.3%.

Shares of MRLN opened at $22.81 on Wednesday. The company has a market capitalization of $292.18 million, a P/E ratio of 11.18 and a beta of 0.95. The stock has a fifty day moving average of $23.18. Marlin Business Services has a 52-week low of $17.51 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.19 and a current ratio of 0.19.

Marlin Business Services (NASDAQ:MRLN) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $24.18 million during the quarter, compared to the consensus estimate of $25.30 million. Marlin Business Services had a return on equity of 12.14% and a net margin of 17.16%. On average, sell-side analysts anticipate that Marlin Business Services will post 2.31 EPS for the current year.

In other news, SVP James Sherlock sold 2,231 shares of Marlin Business Services stock in a transaction on Monday, June 10th. The stock was sold at an average price of $23.00, for a total transaction of $51,313.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Edward Ralph Jr. Dietz sold 2,419 shares of Marlin Business Services stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $23.44, for a total value of $56,701.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,750 shares of company stock valued at $110,350. Corporate insiders own 6.31% of the company’s stock.

MRLN has been the subject of several research analyst reports. BidaskClub upgraded Marlin Business Services from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded Marlin Business Services from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 18th.

About Marlin Business Services

Marlin Business Services Corp. provides credit products and services to small and mid-sized businesses in the United States. The company's products and services include loans and leases for the acquisition of commercial equipment and working capital loans. It offers lease finance to approximately 100 categories of equipment.

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Dividend History for Marlin Business Services (NASDAQ:MRLN)

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