Tennant (NYSE:TNC) Declares $0.30 Quarterly Dividend

Tennant (NYSE:TNC) declared 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 annualized dividend and a dividend yield of 1.34%.

Tennant has raised its dividend payment by an average of 6.5% annually over the last three years and has raised its dividend annually for the last 35 consecutive 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 Stock Down 0.1 %

TNC traded down $0.12 during trading on Wednesday, hitting $88.15. The company had a trading volume of 14,712 shares, compared to its average volume of 133,999. The company has a market cap of $1.66 billion, a PE ratio of 15.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. Tennant has a 1-year low of $78.57 and a 1-year high of $124.11. The business has a 50-day moving average of $83.82 and a 200-day moving average of $89.69.

Analyst Ratings Changes

TNC has been the topic of several research reports. StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Northcoast Research initiated coverage on shares of Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 price objective for the company.

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.