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

Key Points

• Bassett Furniture declared a quarterly dividend of $0.20 per share, payable November 27 to shareholders of record on November 13. The annualized dividend is $0.80 per share, representing a 3.7% yield.
• The dividend appears supported by earnings, with a current payout ratio of 65%; analysts expect next year’s earnings to cover the dividend at an estimated 59.3% payout ratio. The company has increased its dividend for four consecutive years.
• Bassett reported quarterly EPS of $0.24, beating the $0.13 analyst consensus, while revenue of $82.84 million was roughly in line with estimates. The stock opened at $21.47, near its 12-month high, and institutional investors own 54.4% of shares.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) declared a quarterly dividend on Tuesday, October 13th. Investors of record on Friday, November 13th will be given a dividend of $0.20 per share on Friday, November 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, November 13th.

Bassett Furniture Industries has raised its dividend payment 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bassett Furniture Industries to earn $1.35 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 59.3%.

Bassett Furniture Industries Trading Up 1.1%

NASDAQ BSET opened at $21.47 on Thursday. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $22.26. The stock has a market cap of $185.74 million, a PE ratio of 27.18, a P/E/G ratio of 1.22 and a beta of 0.72. The stock's 50 day moving average is $19.06 and its 200 day moving average is $17.30.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last announced its quarterly earnings data on Wednesday, September 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.11. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. The business had revenue of $82.84 million during the quarter, compared to analyst estimates of $82.77 million. On average, analysts forecast that Bassett Furniture Industries will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Bassett Furniture Industries in the second quarter valued at $3,032,000. Bank of New York Mellon Corp bought a new stake in Bassett Furniture Industries in the second quarter worth $1,274,000. Empowered Funds LLC bought a new stake in Bassett Furniture Industries in the second quarter worth $746,000. Hsbc Holdings PLC bought a new stake in Bassett Furniture Industries in the fourth quarter worth $465,000. Finally, Aegis Financial Corp raised its stake in Bassett Furniture Industries by 5.2% during the first quarter. Aegis Financial Corp now owns 526,997 shares of the company's stock valued at $7,457,000 after purchasing an additional 25,878 shares in the last quarter. 54.40% of the stock is owned by institutional investors.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company designs, manufactures, sources and markets furniture and related products for residential customers.

Bassett's product offerings include upholstered furniture, bedroom and dining furniture, occasional tables, home office products, mattresses, outdoor furniture and home accessories. The company is known for customizable furniture programs that allow customers to select upholstery fabrics, finishes and configurations.

The company sells its products through a network of Bassett Home Furnishings retail stores, its e-commerce operations and independent furniture retailers.

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