Hooker Furnishings Co. (NASDAQ:HOFT) Announces $0.23 Quarterly Dividend

Hooker Furnishings Co. (NASDAQ:HOFT) announced a quarterly dividend on Tuesday, December 3rd,RTT News reports. Investors of record on Friday, December 13th will be given a dividend of 0.23 per share on Monday, December 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.06%.

Hooker Furnishings has increased its dividend payment by an average of 10.5% annually over the last three years. Hooker Furnishings has a dividend payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hooker Furnishings to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 61.3%.

Hooker Furnishings Price Performance

NASDAQ HOFT opened at $18.19 on Wednesday. The company’s 50 day simple moving average is $17.36 and its 200 day simple moving average is $16.05. Hooker Furnishings has a 12 month low of $13.09 and a 12 month high of $27.15. The company has a market capitalization of $194.81 million, a P/E ratio of 139.93 and a beta of 1.22.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Hooker Furnishings had a net margin of 0.40% and a return on equity of 0.72%. The firm had revenue of $95.08 million for the quarter, compared to analyst estimates of $93.54 million. During the same quarter in the prior year, the firm earned $0.07 EPS. On average, analysts anticipate that Hooker Furnishings will post -0.37 earnings per share for the current year.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.