HNI Corporation (NYSE:HNI) to Issue Dividend Increase – $0.35 Per Share

HNI Corporation (NYSE:HNI) declared a quarterly dividend on Monday, May 18th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.35 per share by the business services provider on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 29th. This is a 2.9% increase from HNI’s previous quarterly dividend of $0.34.

HNI has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 15 years. HNI has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect HNI to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 27.5%.

HNI Stock Up 1.2%

Shares of NYSE HNI opened at $30.25 on Tuesday. The company has a market capitalization of $2.16 billion, a P/E ratio of 73.78, a price-to-earnings-growth ratio of 0.37 and a beta of 1.01. HNI has a 52-week low of $29.89 and a 52-week high of $53.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 1.39. The company’s 50 day moving average price is $35.60 and its 200-day moving average price is $41.11.

HNI (NYSE:HNI) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. HNI had a net margin of 0.04% and a return on equity of 13.17%. The company’s revenue for the quarter was up 124.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 EPS. Equities analysts forecast that HNI will post 4 earnings per share for the current year.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.