Tennant (NYSE:TNC) to Issue Quarterly Dividend of $0.30

Tennant (NYSE:TNC) announced a quarterly dividend on Thursday, October 31st,NASDAQ Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.295 per share by the industrial products company on Monday, December 16th. This represents a $1.18 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, November 29th. This is a boost from Tennant’s previous quarterly dividend of $0.28.

Tennant has increased its dividend payment by an average of 6.5% annually over the last three years and has increased its dividend annually for the last 53 consecutive years. Tennant has a dividend payout ratio of 18.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tennant to earn $6.69 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 17.6%.

Tennant Price Performance

Shares of TNC stock opened at $88.34 on Thursday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 15.58 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The stock’s 50-day simple moving average is $90.92 and its 200-day simple moving average is $96.19. Tennant has a fifty-two week low of $82.54 and a fifty-two week high of $124.11.

Tennant (NYSE:TNC) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.05). Tennant had a net margin of 8.52% and a return on equity of 21.50%. The company had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. During the same quarter in the previous year, the company posted $1.34 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Tennant will post 6.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

About Tennant

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.