Tennant (NYSE:TNC) Declares Dividend of $0.30

Tennant (NYSE:TNC) declared a dividend on Thursday, October 31st, NASDAQ reports. Stockholders of record on Friday, November 29th will be paid 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 increased its dividend by an average of 6.5% per year over the last three years and has raised its dividend every year for the last 52 years. Tennant has a dividend payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

NYSE:TNC traded down $4.33 during mid-day trading on Friday, hitting $83.24. The stock had a trading volume of 133,328 shares, compared to its average volume of 117,560. The company’s 50 day simple moving average is $93.20 and its 200 day simple moving average is $99.63. Tennant has a twelve month low of $79.52 and a twelve month high of $124.11. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 14.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.46 and a current ratio of 2.17.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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.