Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Declares $0.14 Quarterly Dividend

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Friday, January 14th, Zacks reports. Investors of record on Friday, February 11th will be paid a dividend of 0.14 per share on Friday, February 25th. This represents a $0.56 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, February 10th.

Bassett Furniture Industries has raised its dividend by 12.8% over the last three years and has increased its dividend annually for the last 1 consecutive years. Bassett Furniture Industries has a dividend payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bassett Furniture Industries to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 26.8%.

Shares of NASDAQ:BSET opened at $15.43 on Friday. The stock has a market capitalization of $150.60 million, a PE ratio of 7.87, a P/E/G ratio of 0.47 and a beta of 1.78. Bassett Furniture Industries has a 1 year low of $15.18 and a 1 year high of $37.00. The firm has a fifty day moving average price of $16.92 and a 200 day moving average price of $19.50.

A number of hedge funds have recently added to or reduced their stakes in BSET. UBS Group AG boosted its holdings in Bassett Furniture Industries by 52.8% during the third quarter. UBS Group AG now owns 2,457 shares of the company’s stock valued at $45,000 after acquiring an additional 849 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Bassett Furniture Industries by 147.3% during the third quarter. BNP Paribas Arbitrage SA now owns 2,997 shares of the company’s stock valued at $54,000 after acquiring an additional 1,785 shares during the period. Royal Bank of Canada raised its position in shares of Bassett Furniture Industries by 16.6% during the third quarter. Royal Bank of Canada now owns 9,950 shares of the company’s stock valued at $180,000 after buying an additional 1,413 shares during the last quarter. Morgan Stanley raised its position in shares of Bassett Furniture Industries by 50.5% during the third quarter. Morgan Stanley now owns 14,861 shares of the company’s stock valued at $269,000 after buying an additional 4,985 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Bassett Furniture Industries by 10.5% during the third quarter. Invesco Ltd. now owns 38,552 shares of the company’s stock valued at $698,000 after buying an additional 3,650 shares during the last quarter. Institutional investors own 62.39% of the company’s stock.

Separately, Zacks Investment Research cut shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 4th.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc engages in manufacturing, marketing and retailing home furnishings. It operates through the following segments: Wholesale, Retail, and Logistical Services. The Wholesale segment focuses on the design, manufacture, sourcing, sale and distribution of furniture products.

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Dividend History for Bassett Furniture Industries (NASDAQ:BSET)

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