Tennant Company Board Authorizes 9 Percent Quarterly Dividend Increase

Rhea-AI Summary

Tennant Company (NYSE: TNC) has announced a 9% increase in its quarterly cash dividend to $0.25 per share, marking the 50th consecutive year of raised annual cash dividends. The dividend will be payable on December 15, 2021, to shareholders recorded by November 30, 2021. This move reflects the company's strong capital position and management's confidence in its business outlook. Tennant aims to drive sustainable growth and enhance operational efficiencies to create long-term shareholder value.

Positive

• 9% increase in quarterly cash dividend, now $0.25 per share.
• 50th consecutive year of increased annual cash dividends.
• Reflects strong capital position and management's business confidence.

Negative

• None.

Company Marks 50^th Consecutive Year of Increased Annual Cash Dividend Payouts

MINNEAPOLIS--(BUSINESS WIRE)-- Directors of Tennant Company (NYSE: TNC) today authorized a 9 percent increase in the Company’s quarterly cash dividend to $0.25 per share. The increased dividend is payable December 15, 2021, to shareholders of record at the close of business on November 30, 2021.

“This new authorization marks the 50^th consecutive year that Tennant has increased its annual cash dividend payout and reflects not only the strength of our capital position but also the board’s confidence in our business outlook,” said Dave Huml, Tennant Company’s President and Chief Executive Officer. “We are continuing to implement our key global strategies in order to drive sustainable growth and improve our operational efficiencies with a goal of 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 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; and cleaning tools and supplies. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.0 billion in 2020 and has approximately 4,300 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/20211028005130/en/

INVESTOR CONTACT:

William Prate

Sr. Director, Investor Relations

william.prate@tennantco.com

763-540-1547

Source: Tennant Company

FAQ

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

Tennant Company (TNC) has increased its quarterly cash dividend to $0.25 per share.

When is the dividend payable for Tennant Company (TNC)?

The dividend for Tennant Company (TNC) is payable on December 15, 2021.

What date is the record for Tennant Company's dividend?

Shareholders must be on record by November 30, 2021, to receive the dividend.

How long has Tennant Company been increasing its dividend payouts?

Tennant Company has increased its annual cash dividend payouts for 50 consecutive years.