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

TEGNA Inc. (NYSE:TGNA) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders of record on Friday, March 7th will be given a dividend of 0.125 per share on Tuesday, April 1st. This represents a $0.50 dividend on an annualized basis and a yield of 2.74%.

TEGNA has increased its dividend by an average of 11.3% annually over the last three years. TEGNA has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Analysts expect TEGNA to earn $1.68 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 29.8%.

TEGNA Price Performance

Shares of TGNA stock traded down $0.18 during trading hours on Wednesday, reaching $18.23. The company had a trading volume of 63,253 shares, compared to its average volume of 1,028,929. TEGNA has a 12-month low of $12.35 and a 12-month high of $19.62. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 6.43 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a fifty day moving average of $18.32 and a 200-day moving average of $16.67.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Benchmark increased their price target on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Guggenheim reaffirmed a “buy” rating and set a $22.00 target price on shares of TEGNA in a research note on Friday, January 24th. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

About TEGNA

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.