Bassett Furniture Industries, Incorporated (BSET) to Distribute Quarterly Dividend of $0.20 on August 28th

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) declared a quarterly dividend on Wednesday, July 15th. Investors of record on Friday, August 14th will be paid a dividend of 0.20 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, August 14th.

Bassett Furniture Industries has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Bassett Furniture Industries has a dividend payout ratio of 65.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bassett Furniture Industries to earn $1.38 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 58.0%.

Bassett Furniture Industries Stock Performance

NASDAQ:BSET opened at $19.60 on Wednesday. The firm has a market cap of $169.74 million, a P/E ratio of 30.63, a P/E/G ratio of 1.37 and a beta of 0.76. Bassett Furniture Industries has a fifty-two week low of $13.17 and a fifty-two week high of $22.26. The firm has a 50-day simple moving average of $18.41 and a two-hundred day simple moving average of $16.03.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Wednesday, July 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $83.32 million. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. During the same period in the previous year, the company earned $0.22 earnings per share. On average, equities research analysts predict that Bassett Furniture Industries will post 0.89 EPS for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

Large investors have recently added to or reduced their stakes in the stock. Aegis Financial Corp grew its holdings in shares of Bassett Furniture Industries by 5.2% in the first quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after acquiring an additional 25,878 shares during the period. Hsbc Holdings PLC bought a new position in Bassett Furniture Industries in the fourth quarter valued at about $465,000. Bank of New York Mellon Corp bought a new position in Bassett Furniture Industries in the second quarter valued at about $1,274,000. Marquette Asset Management LLC purchased a new position in Bassett Furniture Industries in the second quarter worth about $300,000. Finally, Empowered Funds LLC boosted its position in Bassett Furniture Industries by 9.2% in the first quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after purchasing an additional 3,532 shares during the last quarter. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.