Leading NY taxi lender Medallion sees better times amid the gloom

Publication: Taxi Times,

Medallion Financial is the nation’s preeminent taxi lender and one of the largest owners of the metal plates that confer the right to drive yellow cabs in New York City, writes Crain’s New York. Uber has hammered the business and in the past three years Medallion’s stock price sank by 83%, to a bit more than $3 per share. The number of loans more than 90 days overdue quadrupled to 17% over the past 12 months and in the summer the company slashed its dividend to a nickel a share from a quarter to conserve cash.

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