Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Announces $0.20 Quarterly Dividend

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Wednesday, January 15th,RTT News reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.20 per share on Friday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Friday, February 14th.

Bassett Furniture Industries has raised its dividend payment by an average of 12.8% per year over the last three years. Bassett Furniture Industries has a dividend payout ratio of 67.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bassett Furniture Industries to earn $1.33 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 60.2%.

Bassett Furniture Industries Stock Performance

Bassett Furniture Industries stock opened at $14.16 on Wednesday. Bassett Furniture Industries has a fifty-two week low of $12.10 and a fifty-two week high of $15.96. The company has a market capitalization of $124.61 million, a P/E ratio of -12.87, a PEG ratio of 1.16 and a beta of 1.67. The stock has a 50-day simple moving average of $14.09 and a 200-day simple moving average of $14.05.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.05 by $0.33. Bassett Furniture Industries had a negative return on equity of 2.42% and a negative net margin of 2.94%. As a group, analysts forecast that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

About Bassett Furniture Industries

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.