Bassett Furniture Industries, Incorporated (BSET) to Issue Quarterly Dividend of $0.20 on November 27th

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Tuesday, October 13th. Shareholders of record on Friday, November 13th will be given a dividend of $0.20 per share on Friday, November 27th. This represents a $0.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, November 13th.

Bassett Furniture Industries has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 4 years. Bassett Furniture Industries has a payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bassett Furniture Industries to earn $1.35 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 59.3%.

Bassett Furniture Industries Stock Up 0.1%

BSET opened at $22.09 on Wednesday. Bassett Furniture Industries has a 52 week low of $13.17 and a 52 week high of $23.60. The stock has a market cap of $191.10 million, a PE ratio of 27.96, a PEG ratio of 1.27 and a beta of 0.73. The business has a 50 day moving average of $20.18 and a 200-day moving average of $17.27.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, September 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $82.84 million during the quarter, compared to the consensus estimate of $82.77 million. Bassett Furniture Industries had a return on equity of 4.36% and a net margin of 2.02%. Equities analysts anticipate that Bassett Furniture Industries will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of hedge funds have recently bought and sold shares of the company. Aegis Financial Corp grew its holdings in shares of Bassett Furniture Industries by 4.4% during the second quarter. Aegis Financial Corp now owns 550,413 shares of the company’s stock valued at $9,753,000 after buying an additional 23,416 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Bassett Furniture Industries by 4.0% in the 1st quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after acquiring an additional 11,700 shares during the last quarter. BlackRock Inc. purchased a new position in Bassett Furniture Industries in the 2nd quarter worth approximately $3,032,000. Bank of New York Mellon Corp bought a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $1,274,000. Finally, Empowered Funds LLC lifted its position in Bassett Furniture Industries by 9.2% in the 1st quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock valued at $595,000 after acquiring an additional 3,532 shares in the last quarter. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company has a long history in the furniture industry and is known for offering products designed for residential interiors. Bassett’s product portfolio includes upholstered furniture, casegoods, bedroom furniture, dining furniture, occasional tables, mattresses, lighting, rugs, accessories and outdoor furnishings. The company offers furniture through its Bassett Home Furnishings retail stores, online channels and a wholesale network serving independent furniture retailers and other customers.