Bassett Furniture Industries Inc. Hikes Dividend 11.1%

By Robert Baillieul, B.Comm. | July 14, 2016

New York, NY — For the fourth consecutive quarter, Bassett Furniture Industries Inc. (NASDAQ:BSET) has elected to raise its dividend to shareholders.

On Thursday, the home furnishings manufacturer declared a payout of $0.10 per share, to be paid on August 26 to stockholders of record as of August 12. The new payout represents an 11.1% increase from the prior dividend of $0.09 per share. Following the announcement, Bassett shares closed the trading session up 0.3%. (Source: “Bassett Announces Board Appointment & Increases Quarterly Dividend,” Bassett Furniture Industries Investor Relations, July 14, 2016.)

According to the firm’s investor presentation, the payment will represent Bassett’s 22nd consecutive quarterly distribution. With the modest payout hike, the company’s payout will increase to $0.04 per share annually, which yields 1.5% based on Bassett’s closing stock price of $26.93.

Sign up to receive our FREE Income Investors newsletter along with our special offers and get our FREE report:

5 Dividend Stocks to Own Forever

We hate spam as much as you do. Check out our privacy policy. This is an entirely free service. No credit card required. You can opt-out at anytime.

a man with a speaker

© Copyright 2024: Income Investors. All rights reserved. No part of this document may be used or reproduced in any manner or means, including print, electronic, mechanical, or by any information storage and retrieval system whatsoever, without written permission from the copyright holder.

Dear Reader: There is no magic formula to getting rich. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and analysis. We are 100% independent in that we are not affiliated with any bank or brokerage house. Information contained herein, while believed to be correct, is not guaranteed as accurate. Warning: Investing often involves high risks and you can lose a lot of money. Please do not invest with money you cannot afford to lose. The opinions in this content are just that, opinions of the authors. We are a publishing company and the opinions, comments, stories, reports, advertisements and articles we publish are for informational and educational purposes only; nothing herein should be considered personalized investment advice. Before you make any investment, check with your investment professional (advisor). We urge our readers to review the financial statements and prospectus of any company they are interested in. We are not responsible for any damages or losses arising from the use of any information herein. Past performance is not a guarantee of future results. All registered trademarks are the property of their respective owners

Please wait...