Tennant (NYSE:TNC) to Issue Quarterly Dividend of $0.28

Tennant (NYSE:TNC) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, May 31st will be paid a dividend of 0.28 per share by the industrial products company on Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Friday, May 31st.

Tennant has raised its dividend by an average of 6.5% per year over the last three years and has increased its dividend annually for the last 52 consecutive years.

Tennant Stock Up 0.8 %

Tennant stock traded up $0.90 during trading hours on Thursday, reaching $115.70. The stock had a trading volume of 109,646 shares, compared to its average volume of 133,078. Tennant has a 52 week low of $72.60 and a 52 week high of $124.11. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 19.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.08 and a quick ratio of 1.44. The business’s 50 day moving average price is $115.74 and its 200-day moving average price is $97.87.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.27 by $0.65. The firm had revenue of $311.40 million during the quarter, compared to analyst estimates of $309.87 million. Tennant had a net margin of 8.81% and a return on equity of 23.07%. Tennant’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. Sell-side analysts anticipate that Tennant will post 6.44 EPS for the current year.

Insider Transactions at Tennant

In related news, insider Richard H. Zay sold 14,743 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the transaction, the insider now directly owns 11,095 shares of the company’s stock, valued at approximately $1,222,558.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Richard H. Zay sold 14,743 shares of Tennant stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total value of $1,624,531.17. Following the completion of the sale, the insider now directly owns 11,095 shares in the company, valued at approximately $1,222,558.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol S. Eicher sold 2,298 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the sale, the director now directly owns 25,540 shares in the company, valued at approximately $2,974,133. The disclosure for this sale can be found here. Insiders sold 17,597 shares of company stock valued at $1,953,293 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

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.