TEGNA Inc. Announces Quarterly Dividend of $0.07 (TGNA)

TEGNA Inc. (NYSE:TGNA) announced a quarterly dividend on Friday, February 22nd, Wall Street Journal reports. Stockholders of record on Friday, March 8th will be given a dividend of 0.07 per share on Monday, April 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, March 7th.

TEGNA has decreased its dividend payment by an average of 19.7% annually over the last three years. TEGNA has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TEGNA to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 18.8%.

TGNA stock opened at $12.45 on Friday. The stock has a market cap of $2.66 billion, a PE ratio of 11.53, a P/E/G ratio of 0.83 and a beta of 1.53. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.47 and a quick ratio of 1.47. TEGNA has a 52 week low of $10.00 and a 52 week high of $14.06.

A number of analysts have recently commented on TGNA shares. ValuEngine raised shares of TEGNA from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Zacks Investment Research reissued a “hold” rating on shares of TEGNA in a research note on Friday, November 16th. Noble Financial reissued a “buy” rating on shares of TEGNA in a research note on Friday, November 16th. Gabelli assumed coverage on shares of TEGNA in a research note on Tuesday, November 27th. They set a “buy” rating for the company. Finally, Wolfe Research assumed coverage on shares of TEGNA in a research note on Friday, December 7th. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $14.18.

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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.

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Dividend History for TEGNA (NYSE:TGNA)

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