Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Declares $0.20 Quarterly Dividend

Key Points

• Bassett Furniture Industries declared a quarterly dividend of $0.20 per share, payable on August 28 to shareholders of record on August 14. The dividend implies an annualized yield of about 3.7%.
• The company has raised its dividend every year for the past four years, and its payout appears covered by earnings with a 65% payout ratio. Analysts expect that coverage to remain manageable next year.
• Bassett also reported better-than-expected quarterly results, with earnings of $0.24 per share versus $0.20 expected and revenue slightly above estimates. The stock was trading up modestly, near its 52-week high.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) declared a quarterly dividend on Thursday, July 16th. Shareholders of record on Friday, August 14th will be given a dividend of 0.20 per share on Friday, August 28th. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, August 14th.

Bassett Furniture Industries has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Bassett Furniture Industries has a dividend payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bassett Furniture Industries to earn $1.38 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 58.0%.

Bassett Furniture Industries Trading Up 0.4%

Shares of BSET stock opened at $21.78 on Friday. The stock has a 50 day simple moving average of $16.42 and a 200-day simple moving average of $15.61. The company has a market cap of $188.61 million, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.76. Bassett Furniture Industries has a 12-month low of $13.17 and a 12-month high of $22.26.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.The firm had revenue of $83.75 million for the quarter, compared to the consensus estimate of $83.32 million. During the same period in the previous year, the business earned $0.22 earnings per share. On average, equities analysts forecast that Bassett Furniture Industries will post 0.89 earnings per share for the current fiscal year.

About Bassett Furniture Industries

Bassett Furniture Industries, Inc NASDAQ: BSET, headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett's products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.

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