Haverty Furniture Companies, Inc. (NYSE:HVT) to Issue Quarterly Dividend of $0.20

Haverty Furniture Companies, Inc. (NYSE:HVT) declared a quarterly dividend on Friday, August 9th, NASDAQ reports. Stockholders of record on Monday, August 26th will be paid a dividend of 0.20 per share on Wednesday, September 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Friday, August 23rd. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.18.

Haverty Furniture Companies has raised its dividend by an average of 26.0% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Haverty Furniture Companies has a payout ratio of 58.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Haverty Furniture Companies to earn $1.31 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 61.1%.

Shares of Haverty Furniture Companies stock opened at $19.04 on Wednesday. The company’s fifty day simple moving average is $18.13 and its 200-day simple moving average is $20.13. The stock has a market capitalization of $375.09 million, a PE ratio of 13.41 and a beta of 0.98. Haverty Furniture Companies has a 1-year low of $15.81 and a 1-year high of $25.09.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $191.90 million for the quarter, compared to analysts’ expectations of $194.32 million. Haverty Furniture Companies had a net margin of 3.44% and a return on equity of 9.84%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. On average, equities research analysts expect that Haverty Furniture Companies will post 1.25 EPS for the current fiscal year.

Several research analysts have recently weighed in on HVT shares. TheStreet cut shares of Haverty Furniture Companies from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. ValuEngine upgraded shares of Haverty Furniture Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Zacks Investment Research cut shares of Haverty Furniture Companies from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.

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Dividend History for Haverty Furniture Companies (NYSE:HVT)

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