Tennant Company (NYSE:TNC) to Issue Quarterly Dividend of $0.31

Tennant Company (NYSE:TNC) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Monday, August 31st will be given a dividend of 0.31 per share by the industrial products company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, August 31st.

Tennant has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 53 consecutive years. Tennant has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tennant to earn $6.41 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 19.3%.

Tennant Price Performance

Shares of NYSE:TNC opened at $89.11 on Wednesday. The business has a fifty day simple moving average of $86.83 and a 200 day simple moving average of $79.51. The company has a current ratio of 2.12, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. Tennant has a 1 year low of $60.17 and a 1 year high of $91.93. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 53.68, a P/E/G ratio of 2.39 and a beta of 1.13.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.18. The business had revenue of $297.90 million during the quarter, compared to analyst estimates of $289.25 million. Tennant had a return on equity of 14.87% and a net margin of 2.55%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. As a group, sell-side analysts predict that Tennant will post 5.12 earnings per share for the current fiscal year.

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.