Tennant (NYSE:TNC) Declares Quarterly Dividend of $0.30

Tennant (NYSE:TNC) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Friday, February 28th will be paid 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 1.35%. The ex-dividend date is Friday, February 28th.

Tennant has raised its dividend by an average of 6.5% annually over the last three years and has raised its dividend every year for the last 35 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 Performance

NYSE:TNC opened at $87.25 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. Tennant has a fifty-two week low of $78.57 and a fifty-two week high of $124.11. The company has a 50 day simple moving average of $83.82 and a two-hundred day simple moving average of $89.55. The company has a market capitalization of $1.65 billion, a PE ratio of 15.39 and a beta of 1.01.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Northcoast Research started coverage on shares of Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 price target on the stock.

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.