Ethan Allen Increases Quarterly Cash Dividend by 16%

Rhea-AI Summary

Ethan Allen Interiors Inc. (NYSE: ETD) declared a quarterly cash dividend of $0.29 per share, a 16% increase from previous payouts. The dividend will be paid on January 5, 2022 to shareholders recorded as of December 14, 2021. Chairman Farooq Kathwari emphasized the company's robust balance sheet and operational success as key factors for this decision. The company anticipates continued growth in sales and profitability due to its talented team, strong retail network, and vertical integration, with 75% of products made in North America.

Positive

• Quarterly cash dividend increased by 16% to $0.29 per share.
• Strong balance sheet and operating results bolster shareholder returns.
• Expectations of continued growth in sales and profitability due to talented workforce and strong retail network.
• 75% of products manufactured in North America enhances operational stability.

Negative

• None.

DANBURY, CT, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Ethan Allen Interiors Inc. (“Ethan Allen” or “the Company”) (NYSE: ETD) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.29 per share, payable on January 5, 2022 to shareholders of record at the close of business on December 14, 2021.

Farooq Kathwari, Ethan Allen’s Chairman, President and CEO commented, “We have a strong history of returning capital to shareholders and are pleased to continue this practice by increasing our regular quarterly dividend by 16% to $0.29 per share. The Board’s decision today highlights our strong balance sheet and operating results allowing for these returns to stockholders. As we head into the 2022 calendar year, we believe we have a great opportunity to continue our growth in sales and profitability due to our talented team, strong retail network, the personal service of our interior design professionals increasingly combined with technology, our unique vertical integration whereby 75% of products are made in our North American manufacturing workshops, and our strong logistics network of national distribution centers and retail home delivery centers delivering product with white glove service to our clients’ homes. We look forward to continuing our progress and remain cautiously optimistic.”

ABOUT ETHAN ALLEN

Ethan Allen Interiors Inc. (NYSE: ETD) is a leading interior design company, manufacturer and retailer in the home furnishings marketplace. The Company is a global luxury home fashion brand that is vertically integrated from product design through home delivery, which offers its customers stylish product offerings, artisanal quality, and personalized service. The Company provides complimentary interior design service to its clients and sells a full range of home furnishings through a retail network of approximately 300 design centers in the United States and abroad as well as online at ethanallen.com. Ethan Allen owns and operates nine manufacturing facilities located in the United States, Mexico and Honduras, including one sawmill, one rough mill and a lumberyard. Approximately 75% of its products are manufactured or assembled in these North American facilities.

For more information on Ethan Allen's products and services, visit www.ethanallen.com.

Investor / Media Contact:  

Matt McNulty
Vice President, Finance
IR@ethanallen.com

FAQ

What is the dividend amount declared by Ethan Allen (ETD) for Q4 2021?

Ethan Allen declared a quarterly cash dividend of $0.29 per share.

When will Ethan Allen (ETD) pay the declared dividend?

The dividend will be paid on January 5, 2022.

What is the record date for Ethan Allen's (ETD) dividend payment?

The record date for the dividend payment is December 14, 2021.

How much has Ethan Allen (ETD) increased its quarterly dividend?

Ethan Allen has increased its quarterly dividend by 16%.

What percentage of Ethan Allen's (ETD) products are made in North America?

Approximately 75% of Ethan Allen's products are manufactured in North America.