Bassett Furniture Hikes Dividend By 12%, Boosts Buyback

by Shivani Kumaresan, Benzinga Staff Writer

July 15, 2021 11:12 AM | 1 min read

Bassett Furniture Industries Inc BSET said its Board of Directors has increased the quarterly dividend by 12% to $0.14 per share of outstanding common stock.
The dividend is payable on August 27, 2021, to shareholders of record at the close of business on August 13, 2021.
The Board has also increased the share repurchase authorization by about $16 million back to the original limit of $20 million.
The company also reported that wholesale orders for the fiscal month of June 2021 increased by 25% year-on-year. The wholesale shipments increased 55% Y/Y.
Cash and equivalents totaled $45.77 million as of May 29, 2021.
Price action: BSET shares are trading higher by 1.21% at $25.08 on the last check Thursday.