Haverty Furniture Companies, Inc. (NYSE:HVT) to Issue Quarterly Dividend of $0.33

Key Points

• Haverty Furniture declared a quarterly dividend of $0.33 per share, payable September 9 to shareholders of record as of August 25. The payment implies a 4.8% annualized yield, with a 53.9% payout ratio.
• The company’s latest quarterly results exceeded expectations, reporting earnings of $0.25 per share versus the $0.23 consensus estimate and revenue of $194.94 million versus $189.19 million expected.
• HVT shares opened at $27.39, up from their 50-day and 200-day moving averages of $26.00 and $24.02, respectively, while trading below the 52-week high of $29.83.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) announced a quarterly dividend on Friday, August 7th. Stockholders of record on Tuesday, August 25th will be given a dividend of 0.33 per share on Wednesday, September 9th. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, August 25th.

Haverty Furniture Companies has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Haverty Furniture Companies has a payout ratio of 53.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Haverty Furniture Companies to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 50.2%.

Haverty Furniture Companies Trading Down 0.3%

Shares of HVT stock opened at $27.39 on Friday. The company's fifty day simple moving average is $26.00 and its 200-day simple moving average is $24.02. Haverty Furniture Companies has a 52 week low of $19.89 and a 52 week high of $29.83. The company has a market cap of $427.01 million, a PE ratio of 20.14, a P/E/G ratio of 1.41 and a beta of 1.20.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. The business had revenue of $194.94 million for the quarter, compared to analyst estimates of $189.19 million. Equities research analysts expect that Haverty Furniture Companies will post 1.62 EPS for the current fiscal year.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.

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