Hail This Taxi Dividend Stock for a 6.9% Yield

There are some stocks whose underlying businesses are just so clever that I have to love them, especially if they involve any kind of creative financing product. It’s even better if it’s a solid and sustainable dividend stock.

That’s the case with Medallion Financial Corporation (TAXI). This neat little company is primarily focused on the financing of taxi cab licenses in major cities like New York. It does other specialty lending as well — such as asset-backed loans for luxury vehicles like boats and art. But its bread and butter has been the taxi business.

Source: InvestorPlace

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