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From Home Furnishing Business
Havertys Board Authorizes Special Cash Dividend, Ups Quarterly Dividend
November 10,
2020 by Laurie Northington in Business Strategy, Industry 
Directors of Atlanta-based Havertys (NYSE: HVT) have authorized a special cash dividend to be paid on the outstanding shares of the two classes of $1 par value common stock of the company at a rate of $2.00 per share on the common stock and $1.90 per share on the Class A common stock.
The board also approved an increase in the quarterly cash dividend to $0.22 per share on the common stock and $0.20 per share on the Class A common stock. The special cash dividend and regular quarterly dividend will be paid together on December 9, 2020 to stockholders of record at the close of business on November 23, 2020. Havertys has paid a cash dividend in each year since 1935.
"Our board of directors authorized several steps taken earlier this year to ensure our liquidity due to the uncertainty facing the economy,” said Clarence H. Smith, chairman, president and CEO.” Our operating results since reopening our stores in May have been very good. The board’s decision today to pay a special dividend, provides returns to Havertys stockholders, maintains a safeguard against potential headwinds, and preserves capital for potential opportunities.”