From Home Furnishing Business
Havertys Board Ok’s 20% Dividend Increase
Directors of Atlanta-based Havertys (NYSE: HVT) have increased the quarterly cash dividend on the company’s common stock to 18 cents per share.
The new dividend represents a 20% increase from the previous dividend of 15 cents per share.
“We continue to review our value creating opportunities and alternatives for returning capital to stockholders. We raised our dividend 25% in the third quarter of 2017 and this additional increase reflects our confidence in funding future growth and discipline in managing our ongoing cash flow generation,” said Clarence Smith, chairman, president and CEO.
The dividend is payable March 29 to shareholders of record at the close of business on March 14. Havertys has paid a cash dividend in each year since 1935.
Directors also increased the dividend on Havertys class A common stock from 14.25 cents per share to 17 cents per share.