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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Thursday, March 13th, RTT News reports. Shareholders of record on Friday, May 16th will be paid a dividend of 0.20 per share on Friday, May 30th. This represents a $0.80 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Friday, May 16th.

Bassett Furniture Industries has increased its dividend payment by an average of 12.8% annually over the last three years. Bassett Furniture Industries has a dividend payout ratio of 63.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of BSET stock opened at $15.09 on Friday. The stock has a market cap of $132.61 million, a P/E ratio of -13.72, a P/E/G ratio of 1.29 and a beta of 1.62. The company has a fifty day moving average price of $14.67 and a two-hundred day moving average price of $14.45. Bassett Furniture Industries has a one year low of $12.11 and a one year high of $16.20.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.33. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.44%. As a group, equities research analysts anticipate that Bassett Furniture Industries will post 0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

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.