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

Key Points

• Bassett Furniture Industries has declared a quarterly dividend of $0.20 per share, with an annualized yield of 5.2%, payable on November 28th to investors on record by November 14th.
• The company reported earnings of $0.09 per share and revenue of $80.10 million for the previous quarter, slightly surpassing analyst estimates.
• Despite a recent trading decline of 1.5%, Bassett Furniture's strong payout ratio of 65.0% suggests it can continue paying dividends sustainably.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) announced a quarterly dividend on Thursday, October 16th. Investors of record on Friday, November 14th will be paid a dividend of 0.20 per share on Friday, November 28th. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, November 14th.

Bassett Furniture Industries has a payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.5%

BSET traded down $0.24 on Thursday, hitting $15.26. The company had a trading volume of 25,389 shares, compared to its average volume of 32,047. The firm has a market cap of $132.55 million, a P/E ratio of 16.96, a PEG ratio of 1.16 and a beta of 1.01. Bassett Furniture Industries has a 1 year low of $13.58 and a 1 year high of $19.75. The company's fifty day moving average price is $16.22 and its 200 day moving average price is $16.55.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $80.10 million for the quarter, compared to analyst estimates of $79.89 million. Bassett Furniture Industries had a net margin of 2.35% and a return on equity of 4.67%. During the same period in the previous year, the firm earned ($0.52) EPS. On average, analysts predict that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

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.

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