Tennant (TNC) To Go Ex-Dividend on May 31st

Tennant (NYSE:TNC) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Friday, May 31st will be given a dividend of 0.28 per share by the industrial products company on Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, May 31st.

Tennant has increased its dividend by an average of 6.5% annually over the last three years and has raised its dividend every year for the last 52 years.

Tennant Stock Performance

Shares of TNC opened at $116.35 on Friday. Tennant has a 52-week low of $72.60 and a 52-week high of $124.11. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 19.87 and a beta of 1.10. The business’s 50 day moving average is $116.02 and its two-hundred day moving average is $98.00.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.65. The firm had revenue of $311.40 million for the quarter, compared to the consensus estimate of $309.87 million. Tennant had a net margin of 8.81% and a return on equity of 23.07%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Analysts forecast that Tennant will post 6.44 EPS for the current fiscal year.

Insider Activity

In related news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the completion of the transaction, the senior vice president now owns 10,698 shares of the company’s stock, valued at $1,176,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $110.00, for a total value of $61,160.00. Following the transaction, the senior vice president now directly owns 10,698 shares of the company’s stock, valued at $1,176,780. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the completion of the transaction, the director now directly owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The disclosure for this sale can be found here. Insiders sold 17,597 shares of company stock worth $1,953,293 over the last three months. Corporate insiders own 2.60% of the company’s 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.