Bassett Furniture Industries, Incorporated (NASDAQ:BSET) declared quarterly dividend of $ 0.125 per share, or $ 0.50 annualized.
The dividend will be payable on November 27, 2020, to stockholders of record on November 13, 2020, with an ex-dividend date of November 12, 2020.
Rob Spilman, Chairman and CEO, said, Our incoming wholesale order rate continued the recent trend in September, exceeding the prior year by 39%. In acknowledgement of this sales trend and the corresponding strengthening of our balance sheet, we are pleased to announce that our Board of Directors restored our dividend to its pre-COVID level.
Dividends History
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Bassett Furniture Industries, Incorporated recently reported second quarter financial results on July 9, 2020, before market open, the Bassett based company posted loss for the second quarter of $ 0.52 per share, from the revenue of $ 63.80 million. Wall street analysts are predicting, BSET to report 2Q20 loss of $ 0.58 per share from revenue of $ 37.61 million. The bottom line results beat street analysts by $ 0.06 or 10.34 percent, at the same time, top line results outshined analysts by $ 26.19 million or 69.64 percent.
Stock Performance
Shares of Bassett Furniture Industries, Incorporated traded low $ -0.57 or -3.47 percent on Thursday, reaching $ 15.88 with volume of 10.60 thousand shares. The stock opened for the day at $ 16.45, after closing the previous day trading at $ 16.45.
According to the previous trading day, closing price of $ 16.45, representing a 287.06 % increase from the 52 week low of $ 4.25 and a 9.81 % decrease over the 52 week high of $ 18.24.
The company has a market capital of $ 158.43 million and is part of the Consumer Cyclical sector and Home Furnishings & Fixtures industry.
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.
