Bassett Furniture Sets 8-Cent Dividend

October 10, 2014  by in Financial Reports, Industry   

The dividend is payable Nov. 28 to shareholders of record at the close of business Nov. 14.

In addition to the dividend, the company's board of directors increased the company's share repurchase authorization by about $14 million to a new limit of $20 million.

"We are pleased that the board has increased our share repurchase authorization by some $14 million," said Robert H. Spilman Jr., president and CEO. "So far this year we have returned over $5.5 million to our shareholders in the form of share repurchases and $4.3 million in the form of dividends. This gives us the flexibility to continue our balanced approach to capital allocation, which includes investing in growth, returning capital through dividends and buying back shares."