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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) announced a quarterly dividend on Wednesday, October 9th, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.20 per share on Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 5.73%. The ex-dividend date is Friday, November 15th.

Bassett Furniture Industries has increased its dividend payment by an average of 14.3% annually over the last three years and has raised its dividend every year for the last 4 years. Bassett Furniture Industries has a dividend payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities analysts expect Bassett Furniture Industries to earn $1.33 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 60.2%.

Bassett Furniture Industries Stock Performance

Shares of BSET stock remained flat at $13.95 during midday trading on Friday. The company's stock had a trading volume of 16,237 shares, compared to its average volume of 18,535. The firm has a market cap of $122.62 million, a price-to-earnings ratio of -7.14 and a beta of 1.69. The company has a 50-day simple moving average of $13.70 and a 200 day simple moving average of $13.89. Bassett Furniture Industries has a 1 year low of $12.10 and a 1 year high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.18). The firm had revenue of $75.62 million during the quarter, compared to the consensus estimate of $78.63 million. Bassett Furniture Industries had a negative return on equity of 3.40% and a negative net margin of 5.00%. During the same quarter last year, the company posted ($0.30) EPS. As a group, research analysts forecast that Bassett Furniture Industries will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John R. Belk purchased 3,847 shares of the company's stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $12.70 per share, with a total value of $48,856.90. Following the transaction, the director now directly owns 41,047 shares in the company, valued at $521,296.90. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 5,324 shares of company stock valued at $67,651 over the last quarter. Corporate insiders own 7.10% of the company's stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.