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From Home Furnishing Business

Ethan Allen Approves Special Dividend Payment

Vertically integrated Ethan Allen (NYSE: ETH) said its board of directors approved a special dividend of 31 cents per share, in addition to its regular quarterly dividend of 19 cents per share.

Both dividends are payable Jan. 24 to shareholders of record on Jan. 10.

"We are pleased that our business performance and strong balance sheet makes it possible to make this 50 cents per share cash dividend to our shareholders,” said Farooq Kathwari, chairman, president and CEO. “This decision is a reflection of the company`s commitment to share in the successes of the company with its shareholders."

Ethan Allen owns and operates nine manufacturing facilities, including six plants and one sawmill in the United States, plus one plant each in Mexico and Honduras.

Its products are sold through approximately 300 company-owned and licensed retail stores, which the company calls design centers.

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