TEGNA Inc. (TGNA) to Issue Quarterly Dividend of $0.13 on January 2nd

TEGNA Inc. (NYSE:TGNA) declared a quarterly dividend on Tuesday, November 18th. Shareholders of record on Friday, December 5th will be paid a dividend of 0.125 per share on Friday, January 2nd. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th.

TEGNA has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. TEGNA has a payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TEGNA to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 29.8%.

TEGNA Stock Performance

NYSE:TGNA traded up $0.04 during mid-day trading on Wednesday, reaching $19.39. The stock had a trading volume of 143,926 shares, compared to its average volume of 2,023,712. TEGNA has a twelve month low of $14.87 and a twelve month high of $21.35. The business has a 50 day simple moving average of $19.95 and a 200 day simple moving average of $18.81. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 9.14 and a beta of 0.12. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.22 and a current ratio of 2.22.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). TEGNA had a return on equity of 12.50% and a net margin of 11.97%.The business had revenue of $650.79 million for the quarter, compared to analyst estimates of $658.28 million. During the same period in the prior year, the company earned $0.94 EPS. The company’s revenue was down 19.3% on a year-over-year basis. On average, analysts expect that TEGNA will post 3.02 earnings per share for the current fiscal year.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.