Havertys Sets Dividend, Stock Repurchase and Promotions

November 11, 2015  by in Executive Changes, Financial Reports, Furniture Retailing, Industry   

The rates are $0.10 per share on the common stock and $0.095 per share on the Class A common stock. The dividend is payable Friday, Dec. 11 to stockholders of record at the close of business on Wednesday, Nov. 25.

In addition to the dividends, Havertys’ board approved a stock repurchase program authorizing the purchase of up to $10 million of common stock and Class A common stock. The retailer has a remaining authorization to buy about $1.3 million under a previously approved program. Shares may be repurchased, at the company’s discretion, from time-to-time in the open market or in privately negotiated transactions.

Two executives with the company have been promoted.

Ed Clary has been named executive vice president and chief information officer. Clary joined Havertys in 1990 and was named vice president, management information services in 1994 and chief information officer in 2000. Clary was given the additional responsibility for distribution in 2008 and has served as senior vice president, distribution and chief information officer. Under his leadership over distribution a number of improvements and innovations were created along with the implementation of operating standards. He is now focusing on Havertys’ company wide information systems, e-commerce platforms, technology and cyber security.

John Gill has been named to the new position of vice president, operations, reporting directly to the Clarence Smith, chairman, president and CEO. Gill is responsible for all distribution, home delivery and customer service functions. He joined Havertys in 2000 and his responsibilities have included leading retail teams in key markets in Virginia, Washington, D.C., and Texas.