Patriot National (PN) Declares $2.50 Special Dividend; Adds $25M to Stock Buyback Authorization
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Patriot National Announces Closing of New Credit Facility and Capital Distribution to Shareholders
November 14, 2016 6:47 AM ESTFORT LAUDERDALE, Fla., Nov. 14, 2016 /PRNewswire/ --Â Patriot National, Inc. (NYSE: PN), ("Patriot National or "the Company") a leading provider of technology and outsourcing solutions to the insurance industry, today announced that it has closed a new credit facility with Cerberus Business Finance, LLC to recapitalize the Company. The Company also announced a significant capital distribution to shareholders, and an expansion of its share repurchase program.... More
Patriot National Announces Third Quarter 2016 Financial Results
November 14, 2016 6:45 AM ESTFORT LAUDERDALE, Fla., Nov. 14, 2016 /PRNewswire/ --Â Patriot National, Inc. (NYSE: PN), ("Patriot National or "the Company") a leading provider of technology and outsourcing solutions, today announced its financial results for the quarter ended September 30, 2016.
Financial Highlights:(For the quarter ended September 30, 2016, all comparisons correspond to the prior-year period)
Total Revenues increased 2.9% to $60.2 million Total Fee Income increased 2.9% to $60.2 million GAAP Net Income of $1.9 million,... More