Item 5. Market for Registrant’s Common Equity
ITEM 5 – Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities
MARKET INFORMATION – Tennant's common stock is traded on the New York Stock Exchange, under the ticker symbol TNC. As of February 7, 2025, there were 246 shareholders of record.
DIVIDEND INFORMATION – Cash dividends on Tennant’s common stock have been paid for 80 consecutive years. Tennant’s annual cash dividend payout increased for the 53 rd consecutive year to $1.135 per share in 2024, an increase of $0.06 per share over 2023. Dividends are generally declared each quarter. On February 11, 2025, the Company announced a quarterly cash dividend of $0.295 per share payable March 14, 2025, to shareholders of record on February 28, 2025.
DIVIDEND REINVESTMENT OR DIRECT DEPOSIT OPTIONS – Shareholders have the option of reinvesting quarterly dividends in additional shares of Company stock or having dividends deposited directly to a bank account. The Transfer Agent should be contacted for additional information.
TRANSFER AGENT AND REGISTRAR – Shareholders with a change of address or questions about their account may contact:
Equiniti Trust Company
Shareowner Services
P.O. Box 64874
St. Paul, MN 55164-0854
(800) 468-9716
SHARE REPURCHASES – Share repurchases are made from time to time in the open market or through privately negotiated transactions. During the twelve months ended December 31, 2024, the Company paid $19.6 million to repurchase 198,352 shares of its common stock. On October 31, 2016, the Board of Directors authorized the repurchase of 1,000,000 shares of our common stock. Under the share repurchase program, 623,061 shares remain authorized.
For the Quarter Ended
December 31, 2024 Total Number of Shares
Purchased (a)
Average Price Paid
Per Share Total Number of Shares Purchased as Part
of Publicly Announced Plans or
Programs Maximum Number of Shares that May
Yet Be Purchased Under the Plans or
Programs (b)
October 1–31, 2024 — $ — — 651,059
November 1–30, 2024 28,505 $ 89.29 27,998 623,061
December 1–31, 2024 — $ — — 623,061
Total 28,505 $ 79.50 27,998 623,061
(a) Includes 507 shares delivered or attested to in satisfaction of the exercise price and/or tax withholding obligations by employees who exercised stock options or restricted stock under employee share-based compensation plans.
(b) On February 11, 2025, the Board of Directors authorized the repurchase of up to 2,000,000 shares. For further information regarding stock repurchase activity, see Note 14 Shareholders' Equity to the consolidated financial statements.
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STOCK PERFORMANCE GRAPH – The following graph compares the cumulative total shareholder return on Tennant’s common stock to two indices: S&P SmallCap 600 and S&P 500 Industrials (Sector). The graph below compares the performance for the last five fiscal years, assuming an investment of $100 on December 31, 2019, including the reinvestment of all dividends.
2019 2020 2021 2022 2023 2024
Tennant Company $ 100 $ 91 $ 107 $ 82 $ 126 $ 112
S&P SmallCap 600 $ 100 $ 111 $ 141 $ 118 $ 137 $ 149
S&P 500 Industrials (Sector) (TR) $ 100 $ 111 $ 135 $ 127 $ 150 $ 176
Source: Zacks Investment Research, Inc.
ITEM 6 – [Reserved]
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