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From Home Furnishing Business
Havertys Board Approves 25% Dividend Increase
August 9,
2017 by Larry Thomas in Economic News, Industry 
Directors of Atlanta-based Havertys (NYSE: HVT) have approved a 3-cent increase in the cash dividend, boosting the payout to 15 cents per share of common stock.
The move represents a 25% increase in the dividend.
The quarterly dividend for the retailer’s class A common stock also was increased from 11.25 cents per share to 14.25 cents per share.
“We have invested heavily in our stores and infrastructure over the last several years and returned significant capital to stockholders,” said Clarence Smith, chairman, president and CEO. “This dividend increase reflects our confidence in the strength of our ongoing cash flow generation while still maintaining flexibility for future growth."
The new dividend is payable Sept. 8 to stockholders of record Aug. 23.
Smith noted that Havertys has paid a cash dividend in each year since 1935 and the new quarterly rate is the highest in its history.