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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Wednesday, October 9th, Zacks reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.20 per share on Friday, November 29th. This represents a $0.80 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend is Friday, November 15th.

Bassett Furniture Industries has raised its dividend by an average of 14.3% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Bassett Furniture Industries has a dividend payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Price Performance

Shares of Bassett Furniture Industries stock opened at $13.95 on Friday. The firm has a fifty day moving average price of $13.70 and a 200 day moving average price of $13.89. Bassett Furniture Industries has a 1 year low of $12.10 and a 1 year high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.40% and a negative net margin of 5.00%. The firm had revenue of $75.62 million for the quarter, compared to analysts’ expectations of $78.63 million. During the same quarter last year, the firm posted ($0.30) earnings per share. As a group, equities analysts expect that Bassett Furniture Industries will post -0.55 EPS for the current year.

Insiders Place Their Bets

In related news, Director John R. Belk bought 3,847 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $12.70 per share, for a total transaction of $48,856.90. Following the acquisition, the director now directly owns 41,047 shares in the company, valued at approximately $521,296.90. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders bought 5,324 shares of company stock worth $67,651. Corporate insiders own 7.10% of the company’s stock.

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.