TEGNA Inc. (NYSE:TGNA) to Issue Quarterly Dividend of $0.13

TEGNA Inc. (NYSE:TGNA) announced a quarterly dividend on Tuesday, November 18th. Stockholders 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 dividend yield of 2.5%. The ex-dividend date is Friday, December 5th.

TEGNA has raised 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 Up 0.4%

TEGNA stock opened at $19.94 on Wednesday. TEGNA has a 52 week low of $14.87 and a 52 week high of $21.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The business’s 50-day moving average price is $20.23 and its 200 day moving average price is $18.64. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 7.17 and a beta of 0.25.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business had revenue of $650.79 million during the quarter, compared to analysts’ expectations of $658.28 million. During the same period in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that TEGNA will post 3.02 earnings per share for the current year.

About TEGNA

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.