TEGNA Inc. (TGNA) To Go Ex-Dividend on September 6th

TEGNA Inc. (NYSE:TGNA) announced a quarterly dividend on Tuesday, July 23rd, Wall Street Journal reports. Investors of record on Friday, September 6th will be given a dividend of 0.125 per share on Tuesday, October 1st. This represents a $0.50 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, September 6th.

TEGNA has increased its dividend by an average of 14.2% per year over the last three years. TEGNA has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect TEGNA to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 25.4%.

TEGNA Trading Down 1.5 %

NYSE TGNA opened at $15.62 on Thursday. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.10. TEGNA has a twelve month low of $12.35 and a twelve month high of $17.37. The firm has a market capitalization of $2.65 billion, a PE ratio of 5.46 and a beta of 0.51. The stock’s 50 day moving average is $14.29 and its 200 day moving average is $14.49.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. The company had revenue of $714.30 million for the quarter, compared to analyst estimates of $718.86 million. During the same period in the previous year, the company posted $0.47 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. Research analysts forecast that TEGNA will post 3.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TEGNA news, CEO David T. Lougee sold 98,437 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.98, for a total value of $1,376,149.26. Following the sale, the chief executive officer now directly owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David T. Lougee sold 98,437 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.98, for a total transaction of $1,376,149.26. Following the transaction, the chief executive officer now directly owns 594,401 shares of the company’s stock, valued at $8,309,725.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $13.99, for a total value of $349,750.00. Following the transaction, the chief operating officer now directly owns 190,474 shares in the company, valued at $2,664,731.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,343 shares of company stock valued at $3,072,994. 0.88% of the stock is currently owned by corporate insiders.

About TEGNA

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.