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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) declared a quarterly dividend on Tuesday, October 13th. Investors of record on Friday, November 13th will be paid a dividend of $0.20 per share on Friday, November 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 13th.

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 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 Trading Up 1.1%

BSET opened at $21.47 on Thursday. The firm has a market cap of $185.74 million, a P/E ratio of 27.18, a P/E/G ratio of 1.22 and a beta of 0.72. Bassett Furniture Industries has a 12 month low of $13.17 and a 12 month high of $22.26. The stock has a 50-day moving average of $19.06 and a 200 day moving average of $17.30.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BSET. Nalls Sherbakoff Group LLC bought a new stake in Bassett Furniture Industries during the 4th quarter valued at about $46,000. Integrated Wealth Concepts LLC purchased a new stake in Bassett Furniture Industries in the 2nd quarter valued at about $59,000. Empowered Funds LLC grew its stake in Bassett Furniture Industries by 9.2% in the 1st quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after acquiring an additional 3,532 shares in the last quarter. Renaissance Technologies LLC grew its stake 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 in the last quarter. Finally, Bank of America Corp DE bought a new position in Bassett Furniture Industries in the 2nd quarter worth about $246,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company designs, manufactures, sources and markets furniture and related products for residential customers.

Bassett’s product offerings include upholstered furniture, bedroom and dining furniture, occasional tables, home office products, mattresses, outdoor furniture and home accessories. The company is known for customizable furniture programs that allow customers to select upholstery fabrics, finishes and configurations.

The company sells its products through a network of Bassett Home Furnishings retail stores, its e-commerce operations and independent furniture retailers.