Bassett Furniture Industries Inc. (BSET) Declares Quarterly Dividend of $0.13

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Bassett Furniture Industries Inc. (NASDAQ:BSET) announced a quarterly dividend on Thursday, January 17th, Zacks reports. Stockholders of record on Friday, February 15th will be paid a dividend of 0.125 per share on Friday, March 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, February 14th.

Bassett Furniture Industries has increased its dividend payment by an average of 11.4% per year over the last three years and has increased its dividend every year for the last 6 years. Bassett Furniture Industries has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings.

Shares of Bassett Furniture Industries stock traded up $0.13 on Friday, reaching $18.62. 15,990 shares of the company were exchanged, compared to its average volume of 33,165. The firm has a market capitalization of $196.26 million, a PE ratio of 19.20 and a beta of 0.65. Bassett Furniture Industries has a fifty-two week low of $18.10 and a fifty-two week high of $34.95.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Thursday, January 17th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.19). The business had revenue of $116.65 million for the quarter, compared to analyst estimates of $118.84 million. Bassett Furniture Industries had a net margin of 1.80% and a return on equity of 5.42%. As a group, equities analysts anticipate that Bassett Furniture Industries will post 0.96 earnings per share for the current fiscal year.

In related news, SVP Mark S. Jordan sold 3,100 shares of the company’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $19.03, for a total transaction of $58,993.00. Following the transaction, the senior vice president now directly owns 17,020 shares of the company’s stock, valued at $323,890.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is currently owned by insiders.

Several research analysts recently weighed in on the company. ValuEngine raised Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.00.

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Bassett Furniture Industries Company Profile

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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Dividend History for Bassett Furniture Industries (NASDAQ:BSET)

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