Tennant Co. (TNC) Raises Quarterly Dividend 5% to $0.21 and Approves Additional 1M Share Buyback
- Wall Street gains, helped by oil, economic data
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- Unusual 11 Mid-Day Movers 12/5: (NVCN) (BCEI) (MEMP) Higher; (GTXI) (CERC) (HDSN) Lower
- Oil hits 16-month high in buying rush after OPEC agreement
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Tennant Co. (NYSE: TNC) declared a quarterly dividend of $0.21 per share, or $0.84 annualized. This is a 5% increase from the prior dividend of $0.20.
The dividend will be payable on December 15, 2016, to stockholders of record on November 30, 2016, with an ex-dividend date of November 28, 2016.
The annual yield on the dividend is 1.3 percent.
The Tennant board of directors also authorized a new share repurchase program of up to one million shares of the company’s common stock. This is in addition to approximately 395,000 shares remaining under its current repurchase program. Share repurchases under these programs may be made through open market and privately negotiated transactions from time to time and in amounts that management deems appropriate. The timing of share repurchases to enhance shareholder value will depend upon market conditions and other corporate considerations. Tennant has approximately 17,600,000 shares outstanding.
Commenting on the new authorizations, Chris Killingstad, Tennant Company’s president and chief executive officer, said, “We remain committed to investing for growth, with disciplined spending, as we strive to reach our goal of $1 billion in organic sales and a 12 percent operating profit margin. These new authorizations reflect the board’s confidence in our business and the strength of our capital position.”
For a dividend history and other dividend-related data on Tennant Co. (TNC) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alexandria Real Estate (ARE) Raises Quarterly Dividend 3.7% to $0.83; 3% Yield
- Johnson Controls (JCI) Declares $0.25 Quarterly Dividend; 2.2% Yield
- PrivateBancorp (PVTB) Declares $0.01 Quarterly Dividend; 0.1% Yield
Create E-mail Alert Related CategoriesDividend Hike, Dividends, Stock Buybacks
Related EntitiesDividend, Stock Buyback
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!