Bassett Furniture Industries, Incorporated (BSET) to Distribute Quarterly Dividend of $0.20 on November 27th

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) declared a quarterly dividend on Tuesday, October 13th. Stockholders 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 dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 13th.

Bassett Furniture Industries has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Bassett Furniture Industries has a payout ratio of 65.0% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.1%

Shares of BSET opened at $21.47 on Thursday. The company has a market capitalization of $185.74 million, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72. Bassett Furniture Industries has a 52-week low of $13.17 and a 52-week high of $22.26. The stock has a 50 day moving average price of $19.06 and a 200 day moving average price of $17.30.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, September 30th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Bassett Furniture Industries had a net margin of 2.02% and a return on equity of 4.36%. The company had revenue of $82.84 million for the quarter, compared to analysts’ expectations of $82.77 million. On average, equities analysts anticipate 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.