Directors of Tennant Company (NYSE: TNC) today authorized an 11 percent
increase in the company’s quarterly cash dividend to 20 cents per share,
a few quarters earlier than needed for continuing the company’s trend of
another consecutive year of increases in the annual cash dividend
payout. The increased dividend is payable June 16, 2014, to shareholders
of record at the close of business on May 30, 2014.
“This increase of 11 percent, or 2 cents per share, reflects our
enthusiasm and confidence in the growth goal of $1 billion in revenue by
2017 while achieving a 12 percent or greater operating profit margin,”
said Chris Killingstad, Tennant Company’s president and chief executive
officer.
The dividend increase will result in an 8 percent increase to the annual
dividend payout for the year 2014. The company has increased its annual
cash dividend payout for 43 consecutive years.
About Tennant Company
Minneapolis-based
Tennant Company (NYSE: TNC) is a world leader in designing,
manufacturing and marketing solutions that help create a cleaner, safer,
healthier world. Its products include equipment for maintaining surfaces
in industrial, commercial and outdoor environments; chemical-free and
other sustainable cleaning technologies; and coatings for protecting,
repairing and upgrading surfaces. Tennant's global field service network
is the most extensive in the industry. Tennant has manufacturing
operations in Minneapolis, Minn.; Holland, Mich.; Louisville, Ky.; Uden,
The Netherlands; the United Kingdom; São Paulo, Brazil; and Shanghai,
China; and sells products directly in 15 countries and through
distributors in more than 80 countries. For more information, visit www.tennantco.com.
Forward-Looking Statements
Certain
statements contained in this document, as well as other written and oral
statements made by us from time to time, are considered “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act. These statements do not relate to strictly historical or
current facts and provide current expectations or forecasts of future
events. Any such expectations or forecasts of future events are subject
to a variety of factors. These include factors that affect all
businesses operating in a global market as well as matters specific to
us and the markets we serve. Particular risks and uncertainties
presently facing us include: geopolitical and economic uncertainty
throughout the world; the competition in our business; our ability to
attract and retain key personnel; our ability to successfully upgrade,
evolve and protect our information technology systems; our ability to
develop and commercialize new innovative products and services; our
ability to comply with laws and regulations; fluctuations in the cost or
availability of raw materials and purchased components; unforeseen
product liability claims or product quality issues; the occurrence of a
significant business interruption; the occurrence of disruptions to our
supply and delivery chains; and the relative strength of the U.S.
dollar, which affects the cost of our materials and products purchased
and sold internationally.
We caution that forward-looking statements must be considered carefully
and that actual results may differ in material ways due to risks and
uncertainties both known and unknown. Shareholders, potential investors
and other readers are urged to consider these factors in evaluating
forward-looking statements and are cautioned not to place undue reliance
on such forward-looking statements. For additional information about
factors that could materially affect Tennant's results, please see our
other Securities and Exchange Commission filings, including disclosures
under “Risk Factors.”
We do not undertake to update any forward-looking statement, and
investors are advised to consult any further disclosures by us on this
matter in our filings with the Securities and Exchange Commission and in
other written statements we make from time to time. It is not possible
to anticipate or foresee all risk factors, and investors should not
consider any list of such factors to be an exhaustive or complete list
of all risks or uncertainties.
Copyright Business Wire 2014