Tennant Company (TNC) to Issue Quarterly Dividend of $0.31 on March 16th

Tennant Company (NYSE:TNC) declared a quarterly dividend on Tuesday, February 10th. Shareholders of record on Friday, February 27th will be paid a dividend of 0.31 per share by the industrial products company on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, February 27th.

Tennant has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 53 years. Tennant has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tennant to earn $7.17 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 17.3%.

Tennant Stock Performance

NYSE TNC opened at $81.70 on Thursday. The company has a 50-day simple moving average of $76.97 and a two-hundred day simple moving average of $78.56. Tennant has a 12-month low of $67.32 and a 12-month high of $90.44. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.53 and a beta of 1.05. The company has a quick ratio of 1.39, a current ratio of 2.13 and a debt-to-equity ratio of 0.37.

About Tennant

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.