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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) declared a quarterly dividend on Wednesday, October 9th,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.20 per share on Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Friday, November 15th.

Bassett Furniture Industries has increased its dividend by an average of 14.3% annually over the last three years. Bassett Furniture Industries has a payout ratio of 103.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Bassett Furniture Industries to earn $0.80 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 100.0%.

Bassett Furniture Industries Trading Down 2.0 %

Shares of BSET opened at $14.81 on Wednesday. The business’s fifty day moving average price is $14.29 and its two-hundred day moving average price is $13.94. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 5.00% and a negative return on equity of 3.47%. During the same quarter in the prior year, the business earned ($0.30) EPS. Research analysts anticipate that Bassett Furniture Industries will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

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.