Havertys Announces Third Quarter Cash Dividend and New Authorization Under Stock Repurchase Program
08/06/2021 - 04:11 PM
ATLANTA, Aug. 06, 2021 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE: HVT and HVT.A) announced today that its board of directors declared a cash dividend to be paid on the outstanding shares of the two classes of $1 par value common stock of the company at a rate of $0.25 per share on the common stock and $0.23 per share on the Class A common stock. The dividend is payable on September 8, 2021, to stockholders of record at the close of business on August 23, 2021. Havertys has paid a cash dividend in each year since 1935.
The board also approved a new authorization under its stock repurchase program that permits the company to purchase up to $25.0 million of its common stock and Class A common stock once the approximately $8.2 million remaining authorization is utilized. The company has repurchased approximately 235,000 shares of common stock for $8.6 million during the third quarter of 2021. Shares may be repurchased, at the company’s discretion, from time-to-time in the open market or in privately negotiated transactions.
Clarence H. Smith, chairman and CEO, said, “The board of directors carefully analyzes our capital allocation. Their actions today demonstrate the strength of our financial position and their confidence in our future cash flow generation to drive future growth and return capital to stockholders using a balanced approach.”
About Havertys www.havertys.com
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SOURCE: Havertys
Haverty Furniture Cos., Inc.
HVT Rankings
#2138 Ranked by Stock Gains
HVT Stock Data
Industry
Furniture Stores
Sector
Retail Trade
Tags
Retail Trade, Specialty Stores, Furniture Stores
Country
US
City
Atlanta
About HVT
havertys began as a single store in downtown atlanta in 1885. today, with over 100 stores in 17 states, we have become one of the top retailers in the furniture industry. from modern and traditional, to rustic and eclectic, our wide range of styles, accessories and collections guarantee that we have something for everyone. we greatly value quality merchandise and continually seek to provide our customers with the highest caliber of product by ensuring that each piece of havertys furniture is made exclusively for our brand. our qualified associates and in-home designers offer expert tips and tools to make each customer’s home a fashionable representation of their own unique personality and vision. whether you’re shopping online or in-store, we aim to provide a positive buying experience. shopping with havertys has everything to do with your commitment to excellence in style and we are dedicated to making sure every havertys customer is a happy customer.
