HNI Corporation Plans Quarterly Dividend of $0.34 (NYSE:HNI)

Key Points

• HNI Corporation has announced a quarterly dividend of $0.34 per share, with payment scheduled for September 11th to investors of record on August 22nd, resulting in an annualized yield of 3.2%.
• The company's dividend payout ratio is 33.9%, suggesting that earnings can comfortably cover the dividend payments; analysts expect HNI to earn $4.01 per share next year.
• During recent trading, HNI's stock fell by 0.5% to $43.13, with notable trading volume exceeding its average, and the company has maintained a strong market capitalization of approximately $1.98 billion.

HNI Corporation (NYSE:HNI - Get Free Report) declared a quarterly dividend on Monday, August 11th, RTT News reports. Investors of record on Friday, August 22nd will be paid a dividend of 0.34 per share by the business services provider on Thursday, September 11th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, August 22nd.

HNI has a dividend payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HNI to earn $4.01 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 33.9%.

HNI Stock Performance

HNI traded up $0.50 on Wednesday, reaching $45.11. The company had a trading volume of 359,150 shares, compared to its average volume of 381,613. HNI has a fifty-two week low of $39.76 and a fifty-two week high of $58.42. The stock has a market cap of $2.07 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.61 and a beta of 0.95. The company's fifty day moving average is $49.01 and its 200 day moving average is $46.65. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.93 and a current ratio of 1.46.

HNI (NYSE:HNI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The business services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.25. HNI had a net margin of 5.73% and a return on equity of 20.08%. The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $646.49 million. During the same quarter in the prior year, the business earned $0.79 EPS. HNI's quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that HNI will post 3.6 earnings per share for the current fiscal year.

About HNI

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.