Tennant Company Board Authorizes 5 Percent Quarterly Dividend Increase

Rhea-AI Summary

Tennant Company (NYSE: TNC) announced a 5% increase in its quarterly cash dividend, raising it to 23 cents per share. This dividend will be payable on December 15, 2020, to shareholders on record by November 30, 2020. This marks the 49th consecutive year of dividend increases. CEO Chris Killingstad expressed confidence in the company's strategies for sustainable growth and operational efficiency, showcasing the board's trust in the company's financial position.

Positive

• 5% increase in quarterly cash dividend to 23 cents per share.
• 49th consecutive year of dividend increases, reflecting consistent performance.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)--Directors of Tennant Company (NYSE: TNC) today authorized a 5 percent increase in the company’s quarterly cash dividend to 23 cents per share. The increased dividend is payable December 15, 2020, to shareholders of record at the close of business on November 30, 2020. As a result, 2020 marks the 49^th consecutive year that the company has increased its annual cash dividend payout.

Commenting on the new authorization, Chris Killingstad, Tennant Company’s president and chief executive officer, said, “We remain confident in our key global strategies to drive sustainable growth and improve our operational efficiencies in order to continue generating long-term value for our shareholders. This new authorization reflect the board’s confidence in our business and the strength of our capital position.”

Company Profile

Founded in 1870, Tennant Company (TNC), headquartered in Minneapolis, Minnesota, is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; cleaning tools and supplies; and coatings for protecting, repairing and upgrading surfaces. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.14 billion in 2019 and has approximately 4,400 employees. Tennant has manufacturing operations throughout the world and sells products directly in 15 countries and through distributors in more than 100 countries. For more information, visit www.tennantco.com and www.ipcworldwide.com. The Tennant Company logo and other trademarks designated with the symbol “®” are trademarks of Tennant Company registered in the United States and/or other countries.