TEGNA Inc. (TGNA) to Issue Quarterly Dividend of $0.13 on April 1st

TEGNA Inc. (NYSE:TGNA) announced a quarterly dividend on Thursday, February 26th. Investors of record on Tuesday, March 10th will be given a dividend of 0.125 per share on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, March 10th.

TEGNA has increased 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 4 years. TEGNA has a payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Analysts expect TEGNA to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 29.8%.

TEGNA Stock Performance

Shares of TGNA opened at $20.66 on Friday. The firm has a 50-day moving average price of $19.79 and a 200 day moving average price of $20.03. The firm has a market capitalization of $3.35 billion, a PE ratio of 15.30 and a beta of 0.12. The company has a quick ratio of 2.22, a current ratio of 2.28 and a debt-to-equity ratio of 0.80. TEGNA has a 52-week low of $14.87 and a 52-week high of $21.35.

TEGNA (NYSE:TGNA) last released its earnings results on Monday, March 2nd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. TEGNA had a net margin of 8.11% and a return on equity of 8.60%. The firm had revenue of $706.11 million for the quarter, compared to analysts’ expectations of $701.29 million. During the same quarter last year, the company earned $1.21 EPS. TEGNA’s quarterly revenue was down 18.9% on a year-over-year basis. On average, sell-side analysts anticipate that TEGNA will post 3.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TGNA has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Zacks Research raised TEGNA from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TEGNA presently has a consensus rating of “Hold” and a consensus target price of $19.75.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.