Bassett Furniture Industries Inc. (NASDAQ:BSET) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Investors of record on Friday, August 16th will be paid a dividend of 0.125 per share on Friday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, August 15th.
Bassett Furniture Industries has increased its dividend by an average of 11.4% per year over the last three years and has raised its dividend every year for the last 6 years. Bassett Furniture Industries has a payout ratio of 42.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bassett Furniture Industries to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 38.8%.
Shares of NASDAQ:BSET opened at $12.70 on Wednesday. The business has a 50-day moving average of $13.14. The stock has a market cap of $132.21 million, a P/E ratio of 13.09, a P/E/G ratio of 1.38 and a beta of 0.80. Bassett Furniture Industries has a fifty-two week low of $12.03 and a fifty-two week high of $24.80.
Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Tuesday, July 2nd. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.24). The company had revenue of $108.19 million during the quarter, compared to analysts’ expectations of $115.39 million. Bassett Furniture Industries had a return on equity of 3.39% and a net margin of 1.29%. As a group, analysts anticipate that Bassett Furniture Industries will post 0.57 EPS for the current fiscal year.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Monday, July 1st. ValuEngine downgraded shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Friday, April 19th.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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