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

Tennant (NYSE:TNC) declared a quarterly dividend on Thursday, October 31st, NASDAQ reports. Investors 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. This represents a $1.18 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, November 29th.

Tennant has raised its dividend by an average of 6.5% annually over the last three years and has increased 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. 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 Trading Down 4.9 %

TNC opened at $83.24 on Friday. Tennant has a 1-year low of $79.52 and a 1-year high of $124.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.17 and a quick ratio of 1.46. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.68 and a beta of 1.00. The company’s 50 day simple moving average is $92.94 and its two-hundred day simple moving average is $99.40.

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 21.87% and a net margin of 8.52%. The business had revenue of $315.80 million during the quarter, compared to the consensus estimate of $319.40 million. During the same period last year, the company earned $1.34 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that Tennant will post 6.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday.

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.