From Home Furnishing Business
Special Dividend Granted to Havertys Shareholders
Directors of Atlanta-based Havertys (HVT) have authorized a special cash dividend to be paid on the outstanding shares of Havertys’ two classes of common stock at a rate of $1 per share on the common stock and 95 cents per share on the Class A common stock.
The board also approved a quarterly cash dividend of 12 cents per share on the common stock and 11.25 cents per share on the Class A common stock. The special cash dividend and regular quarterly dividend will be paid together on Dec. 9 to stockholders of record at the close of business on Nov. 23.
“The decision of our board of directors to pay a special dividend together with the stock repurchases we have made year to date represents approximately $42.3 million towards our ongoing efforts to provide returns to our stockholders,” said Clarence Smith, chairman, president and CEO. “These actions also demonstrate confidence in our ability to generate sufficient cash to execute our strategies for growing Havertys’ business and increasing stockholder value.”