Bassett Furniture Industries, Incorporated (BSET) to Issue Quarterly Dividend of $0.18 on May 31st

Bassett Furniture Industries, Incorporated (NASDAQ:BSETGet Free Report) declared a quarterly dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.18 per share on Friday, May 31st. This represents a $0.72 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Thursday, May 16th.

Bassett Furniture Industries has increased its dividend payment by an average of 14.3% annually over the last three years and has increased its dividend every year for the last 3 years. Bassett Furniture Industries has a dividend payout ratio of 55.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bassett Furniture Industries to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 44.7%.

Bassett Furniture Industries Stock Performance

Shares of NASDAQ:BSET opened at $15.48 on Friday. Bassett Furniture Industries has a 1-year low of $13.30 and a 1-year high of $19.35. The business has a fifty day moving average price of $15.60 and a 200-day moving average price of $15.55.

Bassett Furniture Industries (NASDAQ:BSETGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.21. Bassett Furniture Industries had a positive return on equity of 0.76% and a negative net margin of 0.81%. The firm had revenue of $94.70 million during the quarter, compared to the consensus estimate of $90.61 million. As a group, equities analysts anticipate that Bassett Furniture Industries will post 0.75 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Thursday.

View Our Latest Analysis on Bassett Furniture Industries

Institutional Investors Weigh In On Bassett Furniture Industries

Several large investors have recently bought and sold shares of BSET. Millennium Management LLC bought a new stake in Bassett Furniture Industries in the 2nd quarter worth about $1,795,000. Marshall Wace LLP bought a new stake in Bassett Furniture Industries in the 3rd quarter worth about $763,000. Ancora Advisors LLC increased its holdings in Bassett Furniture Industries by 26.4% in the 1st quarter. Ancora Advisors LLC now owns 171,020 shares of the company’s stock worth $4,151,000 after buying an additional 35,691 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Bassett Furniture Industries in the 4th quarter worth about $468,000. Finally, Jane Street Group LLC bought a new stake in Bassett Furniture Industries in the 1st quarter worth about $437,000. 55.87% of the stock is currently owned by institutional investors.

About Bassett Furniture Industries

(Get Free Report)

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.

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Dividend History for Bassett Furniture Industries (NASDAQ:BSET)

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