Haverty Furniture hikes dividend by 12%

Havertys (HVT) announced today that its board of directors declared a 12% increase in the quarterly dividend rate, from $0.25 per share to $0.28 per share on the company’s common stock. The quarterly dividend for the company’s Class A common stock is also being increased from $0.23 per share to $0.26 per share. The dividend is payable on June 17, 2022 to stockholders of record at the close of business on June 2, 2022. Havertys has paid a cash dividend in each year since 1935.

Clarence H. Smith, chairman and chief executive officer, said, "The board’s decision to increase the dividend reflects our strong financial position and long-term outlook and the importance of shareholder returns as part of our balanced capital allocation strategy.”

Havertys, established in 1885, is a full-service home furnishings retailer, and will now pay an annual dividend rate of $1.12 per share, yielding 3.9% at a stock price of $28.68. HVT has raised its dividend 13 consecutive years.