MINNEAPOLIS--( BUSINESS WIRE)--Directors of Tennant Company (NYSE: TNC) authorized a new share repurchase program of up to 2,000,000 shares of the Company’s common stock, effective February 11, 2025.
“The Board's authorization of a 2,000,000 share repurchase program demonstrates our confidence in Tennant's strategic direction and our commitment to returning capital to shareholders,” said Dave Huml, Tennant President and Chief Executive Officer. “This initiative highlights our strong financial position and dedication to disciplined capital allocation, aiming to enhance shareholder returns while continuing to invest in growth opportunities.”
This authorization is in addition to approximately 580,000 shares remaining under the company’s 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 18,800,000 shares outstanding.
Company Profile
Founded in 1870, Tennant Company (TNC), headquartered in Eden Prairie, Minnesota, is a world leader in the design, manufacture and marketing of solutions that help create a cleaner, safer and healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and cleaning tools and supplies. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.24 billion in 2023 and has approximately 4,500 employees. Tennant has manufacturing operations throughout the world and sells products direct in 21 countries and through distributors in more than 100 countries. For more information, visit www.tennantco.com and www.ipcworldwide.com. The Tennant Company logo and other trademarks designated with the symbol “®” are trademarks of Tennant Company registered in the United States and/or other countries.