Bassett Furniture Industries, Incorporated (BSET) to Issue Quarterly Dividend of $0.20 on August 30th

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Tuesday, July 9th, Zacks reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.20 per share on Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.18.

Bassett Furniture Industries has increased its dividend by an average of 14.3% annually over the last three years. Bassett Furniture Industries has a payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Bassett Furniture Industries to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 60.2%.

Bassett Furniture Industries Stock Up 1.1 %

Shares of BSET stock opened at $12.81 on Wednesday. The firm has a market cap of $113.10 million, a P/E ratio of -7.40 and a beta of 1.69. The company has a 50 day moving average of $13.66 and a 200-day moving average of $14.31. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, July 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). Bassett Furniture Industries had a negative return on equity of 2.30% and a negative net margin of 4.29%. The firm had revenue of $83.41 million during the quarter, compared to analysts’ expectations of $86.21 million.

Insider Activity at Bassett Furniture Industries

In other Bassett Furniture Industries news, Director John R. Belk purchased 3,847 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $12.70 per share, for a total transaction of $48,856.90. Following the purchase, the director now owns 41,047 shares of the company’s stock, valued at approximately $521,296.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is currently owned by company insiders.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.