Tennant Company Board Authorizes 5 Percent Quarterly Dividend Increase and Repurchase of Additional One
Million Shares
Directors of Tennant Company (NYSE: TNC) today authorized a 5 percent increase in the company’s quarterly cash dividend to 21
cents per share. The increased dividend is payable December 15, 2016, to shareholders of record at the close of business on
November 30, 2016. As a result, 2016 marks the 45th consecutive year that the company has increased its annual cash
dividend payout.
The Tennant board of directors also authorized a new share repurchase program of up to one million shares of the company’s
common stock. This is in addition to approximately 395,000 shares remaining under its current repurchase program. Share repurchases
under these programs may be made through open market and privately negotiated transactions from time to time and in amounts that
management deems appropriate. The timing of share repurchases to enhance shareholder value will depend upon market conditions and
other corporate considerations. Tennant has approximately 17,600,000 shares outstanding.
Commenting on the new authorizations, Chris Killingstad, Tennant Company’s president and chief executive officer, said, “We
remain committed to investing for growth, with disciplined spending, as we strive to reach our goal of $1 billion in organic sales
and a 12 percent operating profit margin. These new authorizations reflect the board’s confidence in our business and the strength
of our capital position.”
Company Profile
Minneapolis-based Tennant Company (TNC) is a world leader in designing, manufacturing and marketing solutions that empower
customers to achieve quality cleaning performance, significantly 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 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,
MN; Holland, MI; Louisville, KY; Chicago, IL; Uden, The Netherlands; 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. 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.
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; foreign
currency exchange rate fluctuations, particularly the relative strength of the U.S. dollar against other major currencies; our
ability to attract and retain key personnel; our ability to successfully upgrade, evolve and protect our information technology
systems; fluctuations in the cost, quality, or availability of raw materials and purchased components; our ability to effectively
manage organizational changes; our ability to develop and commercialize new innovative products and services; unforeseen product
liability claims or product quality issues; the occurrence of a disruption to the value chain process, such as sourcing,
distribution, logistics or customer support; the occurrence of a significant business interruption; and our ability to comply with
laws and regulations.
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.
Tennant Company
Investor Contact:
Tom Paulson, 763-540-1204
Senior Vice President and Chief Financial Officer
tom.paulson@tennantco.com
or
Media Contact:
Kathryn Lovik, 763-540-1212
Global Communications Director
kathryn.lovik@tennantco.com
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