Tessco Technologies (TESS) Misses Q3 EPS by 72c, Revenues Miss; Announces Dividend Reduction

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Go back to Tessco Technologies (TESS) Misses Q3 EPS by 72c, Revenues Miss; Announces Dividend Reduction

Tessco Technologies (TESS) Lowers Quarterly Dividend 90% to $0.02; 0.7% Yield

January 27, 2020 4:15 PM EST

Tessco Technologies (NASDAQ: TESS) declared a quarterly dividend of $0.02 per share, or $0.08 annualized. This is a 90% decrease from the prior dividend of $0.20.

The dividend will be payable on February 26, 2020, to stockholders of record on February 12, 2020, with an ex-dividend date of February 11, 2020.

The annual yield on the dividend is 0.7 percent.

This quarters weaker-than-expected results were primarily driven by the continuing softness in our Retail segment, said Sandip Mukerjee, President and Chief Executive Officer. The retail business has experienced significant declines in the past year, including the loss of the large... More