TEGNA Inc. (NYSE:TGNA) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.07 per share on Monday, July 1st. This represents a $0.28 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, June 6th.

TEGNA has decreased its dividend payment by an average of 19.7% per year over the last three years. TEGNA has a payout ratio of 16.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect TEGNA to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 13.3%.

Shares of NYSE TGNA traded down $0.04 during mid-day trading on Thursday, hitting $15.77. 2,072,613 shares of the stock were exchanged, compared to its average volume of 2,342,600. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.19 and a beta of 1.56. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.20. TEGNA has a twelve month low of $10.00 and a twelve month high of $16.57.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Friday, March 1st. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.07. The company had revenue of $642.10 million during the quarter, compared to analyst estimates of $628.71 million. TEGNA had a net margin of 18.18% and a return on equity of 33.72%. The company’s revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. On average, analysts forecast that TEGNA will post 1.31 earnings per share for the current year.

In other TEGNA news, Director Neal Shapiro sold 27,613 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $14.72, for a total value of $406,463.36. Following the transaction, the director now directly owns 17,478 shares of the company’s stock, valued at $257,276.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Several research firms have recently commented on TGNA. Zacks Investment Research cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Noble Financial reissued a “buy” rating and set a $14.50 price target on shares of TEGNA in a research note on Thursday, February 28th. ValuEngine raised shares of TEGNA from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. Evercore ISI raised shares of TEGNA from an “in-line” rating to an “outperform” rating in a research note on Monday, March 25th. Finally, Barrington Research reissued a “buy” rating and set a $17.00 price target on shares of TEGNA in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.50.

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About TEGNA

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.

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Dividend History for TEGNA (NYSE:TGNA)

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