Tennant (TNC) to Issue Quarterly Dividend of $0.30 on March 14th

Tennant (NYSE:TNC) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.295 per share by the industrial products company on Friday, March 14th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th.

Tennant has raised its dividend by an average of 6.5% per year over the last three years and has increased its dividend every year for the last 35 years. Tennant has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tennant to earn $6.69 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 17.6%.

Tennant Price Performance

TNC stock opened at $87.25 on Thursday. Tennant has a 1 year low of $78.57 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 15.39 and a beta of 1.01. The company has a 50 day simple moving average of $83.82 and a 200 day simple moving average of $89.55.

Analyst Ratings Changes

A number of brokerages recently weighed in on TNC. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Northcoast Research assumed coverage on Tennant in a report on Thursday, December 19th. They set a “buy” rating and a $125.00 price target on the stock.

Tennant Company Profile

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.