Overview
Description
Medallion Bank Preferred Stock 8% Perpetual is a type of preferred equity security issued by Medallion Bank. This financial asset is designed to deliver consistent dividend income to its holders, set at a fixed rate of 8% annually. As a perpetual preferred stock, it does not have a maturity date, meaning it can provide long-term investment stability with regular payouts. Medallion Bank, a subsidiary of Medallion Financial Corp., initially focuses on niche lending markets, including recreational vehicles and marine loans, as well as home improvement financing. The 8% Preferred Stock supports the bank's capital strategy, offering it access to funds necessary for growth initiatives and operational funding. In the broader financial market, preferred stocks like this one appeal to income-seeking investors who prioritize dividend yield over capital appreciation. By maintaining priority over common stock in dividend distribution and liquidation scenarios, Medallion Bank's 8% Perpetual Preferred Stock plays a vital role in its capital structure, balancing risk and income potential for its investors.
About
CEO
Mr. Donald S. Poulton
Employees
136
Address
1100 East 6600 South
Suite 510
Salt Lake City, 84121, UT
United States
Suite 510
Salt Lake City, 84121, UT
United States
Phone
(866) 688-6983
Website
Instrument type
Preferred stock
Sector
Financial Services
Industry
Banks - Regional
Country
United States
MIC code
XNCM