Tennant Company Board Authorizes 6 Percent Quarterly Dividend Increase

Rhea-AI Summary

Tennant Company (NYSE: TNC) has announced a 6% increase in its quarterly cash dividend to $0.265 per share. This marks the company's 51st consecutive year of dividend increases, demonstrating a strong financial foundation and commitment to shareholder value. The increased dividend is payable on December 15, 2022, to shareholders of record by November 30, 2022. Tennant reported sales of $1.09 billion in 2021 and operates globally with approximately 4,250 employees.

Positive

• 6% increase in quarterly cash dividend to $0.265 per share.
• 51st consecutive year of increased annual cash dividend payouts.
• Strong financial foundation and disciplined capital allocation.

Negative

• None.

Company Marks 51^st Consecutive Year of Increased Annual Cash Dividend Payouts

MINNEAPOLIS--(BUSINESS WIRE)-- Directors of Tennant Company (NYSE: TNC) today authorized a 6 percent increase in the Company’s quarterly cash dividend to $0.265 per share. The increased dividend is payable December 15, 2022, to shareholders of record at the close of business on November 30, 2022.

“This is the 51^st consecutive year that Tennant has increased its annual cash dividend payout to shareholders,” said Dave Huml, Tennant Company’s President and Chief Executive Officer. “This increased dividend reflects the company’s strong financial foundation, disciplined capital allocation prioritization, and commitment to generating long-term value for our shareholders.”

Company Profile

Founded in 1870, Tennant Company (TNC), headquartered in Eden Prairie, Minnesota, is a world leader in the design, manufacture and marketing of solutions that help create a cleaner, safer and healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and cleaning tools and supplies. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.09 billion in 2021 and has approximately 4,250 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005988/en/

Lorenzo Bassi

Vice President, Finance

lorenzo.bassi@tennantco.com

763-540-1600

Source: Tennant Company

FAQ

What is the new quarterly dividend amount for Tennant Company (TNC)?

The new quarterly dividend amount for Tennant Company (TNC) is $0.265 per share.

When is the dividend payable for Tennant Company?

The dividend is payable on December 15, 2022.

How many years has Tennant Company increased its dividend payouts?

Tennant Company has increased its dividend payouts for 51 consecutive years.

What were the sales figures for Tennant Company in 2021?

Tennant Company reported sales of $1.09 billion in 2021.