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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) declared a quarterly dividend on Tuesday, October 13th. Investors of record on Friday, November 13th will be given a dividend of $0.20 per share on Friday, November 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 13th.

Bassett Furniture Industries has raised its dividend by an average of 0.1% per year 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 65.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bassett Furniture Industries to earn $1.35 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 59.3%.

Bassett Furniture Industries Trading Up 1.1%

Shares of Bassett Furniture Industries stock opened at $21.47 on Thursday. Bassett Furniture Industries has a 52 week low of $13.17 and a 52 week high of $22.26. The stock has a market cap of $185.74 million, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. The company’s 50-day moving average price is $19.06 and its two-hundred day moving average price is $17.30.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, September 30th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. The company had revenue of $82.84 million during the quarter, compared to analyst estimates of $82.77 million. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. On average, equities analysts predict that Bassett Furniture Industries will post 1.09 EPS for the current fiscal year.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company designs, manufactures, sources and markets furniture and related products for residential customers.

Bassett’s product offerings include upholstered furniture, bedroom and dining furniture, occasional tables, home office products, mattresses, outdoor furniture and home accessories. The company is known for customizable furniture programs that allow customers to select upholstery fabrics, finishes and configurations.

The company sells its products through a network of Bassett Home Furnishings retail stores, its e-commerce operations and independent furniture retailers.