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

Tennant (NYSE:TNC) announced a dividend on Thursday, October 31st, NASDAQ reports. Stockholders 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. The ex-dividend date is Friday, November 29th.

Tennant has increased its dividend by an average of 6.5% annually over the last three years and has raised its dividend every year for the last 52 years. Tennant has a dividend payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of TNC stock traded down $4.33 during midday trading on Friday, reaching $83.24. 133,328 shares of the company were exchanged, compared to its average volume of 117,560. The company has a market cap of $1.57 billion, a P/E ratio of 14.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.46 and a current ratio of 2.17. Tennant has a 12 month low of $79.52 and a 12 month high of $124.11. The company’s 50 day moving average price is $93.20 and its two-hundred day moving average price is $99.63.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The business had revenue of $315.80 million for the quarter, compared to analysts’ expectations of $319.40 million. During the same period in the previous year, the firm posted $1.34 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Tennant will post 6.48 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Tennant from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th.

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.