Tennant Company (NYSE:TNC) to Issue $0.31 Quarterly Dividend

Tennant Company (NYSE:TNC) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, August 31st will be given a dividend of 0.31 per share by the industrial products company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 31st.

Tennant has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 53 consecutive years. Tennant has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tennant to earn $6.41 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 19.3%.

Tennant Trading Up 3.8%

Tennant stock opened at $89.11 on Wednesday. The business has a 50 day moving average price of $86.83 and a two-hundred day moving average price of $79.51. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 2.39 and a beta of 1.13. Tennant has a 12 month low of $60.17 and a 12 month high of $91.93.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.18. The company had revenue of $297.90 million for the quarter, compared to analyst estimates of $289.25 million. Tennant had a return on equity of 14.87% and a net margin of 2.55%.Tennant’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 EPS. As a group, equities analysts forecast that Tennant will post 5.12 EPS for the current year.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.