TEGNA Inc. (NYSE:TGNA) Plans $0.13 Quarterly Dividend

TEGNA Inc. (NYSE:TGNA) declared a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Investors of record on Friday, September 6th will be paid a dividend of 0.125 per share on Tuesday, October 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, September 6th.

TEGNA has increased its dividend payment by an average of 14.2% per year over the last three years. TEGNA has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TEGNA to earn $1.97 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 25.4%.

TEGNA Stock Down 1.5 %

Shares of TGNA traded down $0.24 during trading hours on Wednesday, reaching $15.61. The stock had a trading volume of 708,912 shares, compared to its average volume of 2,153,610. TEGNA has a 12 month low of $12.35 and a 12 month high of $17.37. The firm has a 50-day simple moving average of $14.29 and a 200 day simple moving average of $14.49. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 5.50 and a beta of 0.51.

TEGNA (NYSE:TGNA) last issued its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $714.30 million for the quarter, compared to analysts’ expectations of $718.86 million. TEGNA had a return on equity of 11.86% and a net margin of 19.48%. TEGNA’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.47 EPS. Equities research analysts predict that TEGNA will post 3.11 earnings per share for the current fiscal year.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $13.99, for a total value of $349,750.00. Following the completion of the sale, the chief operating officer now directly owns 190,474 shares of the company’s stock, valued at approximately $2,664,731.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Clifton A. Mcclelland III sold 54,093 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.78, for a total transaction of $853,587.54. Following the completion of the sale, the senior vice president now directly owns 42,602 shares of the company’s stock, valued at approximately $672,259.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $13.99, for a total value of $349,750.00. Following the sale, the chief operating officer now directly owns 190,474 shares of the company’s stock, valued at $2,664,731.26. The disclosure for this sale can be found here. In the last three months, insiders sold 210,343 shares of company stock valued at $3,072,994. 0.88% of the stock is owned by insiders.

TEGNA Company Profile

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.