Tennant (NYSE:TNC – Get Free Report) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Investors of record on Friday, August 30th will be given a dividend of 0.28 per share by the industrial products company on Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, August 30th.
Tennant has increased its dividend by an average of 6.5% per year over the last three years and has raised its dividend annually for the last 52 consecutive years. Tennant has a payout ratio of 15.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tennant to earn $7.00 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 16.0%.
Tennant Stock Down 0.7 %
TNC traded down $0.65 on Wednesday, hitting $95.87. 171,604 shares of the company were exchanged, compared to its average volume of 125,388. Tennant has a twelve month low of $72.81 and a twelve month high of $124.11. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 15.95 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $101.07 and a two-hundred day moving average price of $106.11.
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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.
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