Bassett Furniture Industries Inc. (NASDAQ:BSET) to Issue Quarterly Dividend of $0.13
Bassett Furniture Industries Inc. (NASDAQ:BSET) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.125 per share on Friday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Thursday, August 15th.
Bassett Furniture Industries has increased its dividend by an average of 11.4% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Bassett Furniture Industries has a dividend payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bassett Furniture Industries to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 38.8%.
Shares of NASDAQ:BSET opened at $12.70 on Tuesday. Bassett Furniture Industries has a 52-week low of $12.03 and a 52-week high of $24.80. The company has a market cap of $131.79 million, a price-to-earnings ratio of 20.75, a P/E/G ratio of 1.38 and a beta of 0.80. The stock has a 50 day moving average price of $13.16.
A number of research firms recently weighed in on BSET. Zacks Investment Research lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Monday, July 1st. ValuEngine lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Friday, April 19th.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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