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

Tennant (NYSE:TNC) declared a dividend on Thursday, October 31st, NASDAQ reports. Stockholders 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. The ex-dividend date of this dividend 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 annually for the last 52 consecutive years. Tennant has a 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 Stock Down 4.9 %

TNC traded down $4.33 on Friday, hitting $83.24. 133,328 shares of the company were exchanged, compared to its average volume of 117,560. The firm has a 50-day moving average price of $93.20 and a two-hundred day moving average price of $99.63. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. Tennant has a twelve month low of $79.52 and a twelve month high of $124.11. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 14.37 and a beta of 1.00.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. Tennant had a return on equity of 22.23% and a net margin of 8.76%. The company had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. During the same quarter last year, the company posted $1.34 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Tennant will post 6.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th.

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.