Tennant Company Board Authorizes Repurchase of Additional One Million Shares
June 22 2015 - 9:00AM
Business Wire
Directors of Tennant Company (NYSE: TNC) today authorized a new
share repurchase program of up to one million shares of the
company's common stock. This is in addition to approximately
185,000 shares remaining under its current repurchase program.
Share repurchases under these programs may be made through open
market and privately negotiated transactions from time to time and
in amounts that management deems appropriate. The timing of share
repurchases will depend upon market conditions and other corporate
considerations. Tennant has approximately 18,300,000 shares
outstanding.
Commenting on the new authorization, Chris Killingstad, Tennant
Company's president and chief executive officer, said, "Our share
repurchase program supports the company's commitment to enhance
shareholder value by providing the financial flexibility to offset
any dilutive effect of stock-based compensation programs and to
consider repurchases to create value based on overall market
conditions. Further, this new authorization reflects the board's
confidence in our business and the strength of our capital
position."
Company
ProfileMinneapolis-based Tennant Company (NYSE: TNC) is
a world leader in designing, manufacturing and marketing solutions
that empower customers to achieve quality cleaning performance,
significantly reduce their environmental impact and help create a
cleaner, safer, healthier world. Its products include equipment for
maintaining surfaces in industrial, commercial and outdoor
environments; chemical-free and other sustainable cleaning
technologies; and coatings for protecting, repairing and upgrading
surfaces. Tennant's global field service network is the most
extensive in the industry. Tennant has manufacturing operations in
Minneapolis, Minn.; Holland, Mich.; Louisville, Ky.; Uden, The
Netherlands; the United Kingdom; São Paulo, Brazil; and Shanghai,
China; and sells products directly in 15 countries and through
distributors in more than 80 countries. For more information, visit
www.tennantco.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150622005034/en/
Tennant CompanyInvestor Contact:Tom Paulson, 763-540-1204Senior
Vice President and Chief Financial OfficerorMedia Contact:Kathryn
Lovik, 763-540-1212Global Communications Director
Tennant (NYSE:TNC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tennant (NYSE:TNC)
Historical Stock Chart
From Apr 2023 to Apr 2024