Tennant Company Increases Dividend

Rhea-AI Summary

Tennant Company (NYSE: TNC) announced a 5.4% increase in its quarterly cash dividend to $0.295 per share, payable December 16, 2024, to shareholders of record as of November 29, 2024. This marks the company's 53rd consecutive annual dividend increase and 80th year of consecutive dividend payments. The company, founded in 1870, reported sales of $1.24 billion in 2023 and employs approximately 4,500 people globally. Tennant manufactures surface maintenance equipment and cleaning solutions, operating through direct sales in 20 countries and distributors in over 100 countries.

Positive

• 53 consecutive years of dividend increases demonstrates strong financial stability
• Quarterly dividend increased by 5.4% to $0.295 per share
• Strong balance sheet and solid free cash flow position
• Substantial sales of $1.24 billion in 2023
• Extensive global presence in over 100 countries

Negative

• None.

Marks 53^rd Consecutive Increase in Annual Cash Dividend

MINNEAPOLIS--(BUSINESS WIRE)-- The Board of Directors of Tennant Company (NYSE: TNC) today authorized raising the quarterly cash dividend to $0.295 per share, a 5.4% increase. The increased dividend is payable December 16, 2024, to shareholders of record at the close of business on November 29, 2024.

“We take pride in our strong dividend legacy and remain committed to delivering long-term value for our shareholders in line with our capital allocation priorities. Our strong balance sheet and solid free cash flow position enable us to consistently grow our dividend and return capital to shareholders,” said Tennant Company President and CEO Dave Huml.

Tennant Company has paid a cash dividend for the past 80 consecutive years and increased the dividend payout for 53 consecutive years.

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 $1.24 billion in 2023 and has approximately 4,500 employees. Tennant has manufacturing operations throughout the world and sells products direct in 20 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.

Category: Dividends

View source version on businesswire.com: https://www.businesswire.com/news/home/20241031143813/en/

INVESTOR CONTACT:

Lorenzo Bassi

Vice President, Finance and Investor Relations

investors@tennantco.com

763-540-1242

Source: Tennant Company

FAQ

What is Tennant Company's (TNC) new quarterly dividend amount for 2024?

Tennant Company's new quarterly dividend is $0.295 per share, representing a 5.4% increase from the previous amount.

When will Tennant Company (TNC) pay its latest quarterly dividend?

The dividend will be paid on December 16, 2024, to shareholders of record as of November 29, 2024.

How many consecutive years has Tennant Company (TNC) increased its dividend?

Tennant Company has increased its dividend for 53 consecutive years and has paid dividends for 80 consecutive years.

What were Tennant Company's (TNC) total sales in 2023?

Tennant Company reported total sales of $1.24 billion in 2023.