Tegna Inc (NYSE:TGNA) declared a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Stockholders of record on Friday, March 9th will be paid a dividend of 0.07 per share on Monday, April 2nd. This represents a $0.28 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 8th.
Tegna has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tegna to earn $1.65 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 17.0%.
Shares of Tegna (TGNA) traded up $0.17 on Friday, hitting $13.76. The stock had a trading volume of 1,858,989 shares, compared to its average volume of 2,163,694. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 4.30. The stock has a market cap of $3,010.73, a PE ratio of 10.14, a PEG ratio of 6.90 and a beta of 1.50. Tegna has a fifty-two week low of $11.59 and a fifty-two week high of $17.08.
Several brokerages have recently issued reports on TGNA. B. Riley reiterated a “neutral” rating on shares of Tegna in a research note on Wednesday, November 1st. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Tegna in a research note on Thursday. FBR & Co reiterated a “hold” rating and issued a $15.00 price objective on shares of Tegna in a research note on Wednesday, November 1st. Noble Financial reiterated a “buy” rating on shares of Tegna in a research note on Tuesday, November 14th. Finally, Zacks Investment Research cut Tegna from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Tegna currently has a consensus rating of “Hold” and a consensus target price of $18.11.
In related news, SVP Clifton A. Mcclelland III sold 7,740 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total transaction of $105,960.60. Following the completion of the sale, the senior vice president now owns 32,335 shares in the company, valued at $442,666.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.81% of the stock is owned by insiders.
WARNING: This article was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/23/tegna-inc-tgna-plans-0-07-quarterly-dividend.html.
Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
Receive News & Ratings for Tegna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tegna and related companies with MarketBeat.com's FREE daily email newsletter.