Tennant (NYSE:TNC – Get Free Report) 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.
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.
Get Our Latest Analysis on Tennant
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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