Tennant (TNC) to Issue Quarterly Dividend of $0.28 on September 16th

Tennant (NYSE:TNC) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.28 per share by the industrial products company on Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, August 30th.

Tennant has increased its dividend payment by an average of 6.5% per year over the last three years and has increased its dividend annually for the last 52 consecutive years. Tennant has a dividend payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tennant to earn $6.73 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 16.6%.

Tennant Stock Down 0.7 %

Shares of NYSE TNC opened at $96.45 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. Tennant has a 12-month low of $72.81 and a 12-month high of $124.11. The firm’s 50-day moving average price is $99.40 and its 200-day moving average price is $106.06. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 16.02 and a beta of 1.02.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.11. The business had revenue of $331.00 million for the quarter, compared to the consensus estimate of $327.00 million. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.86 earnings per share. On average, equities research analysts anticipate that Tennant will post 6.48 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 17th.

Tennant Company Profile

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.