Ethan Allen Increases Regular Quarterly Dividend by 10%

Rhea-AI Summary

Ethan Allen Interiors Inc. (NYSE:ETD) has announced a 10% increase in its regular quarterly cash dividend, now at $0.32 per share, payable on May 25, 2022. Shareholders on record by May 10, 2022 will receive this dividend. Chairman Farooq Kathwari highlighted the company's strong balance sheet and vertical integration, with 75% of products made in North America, as key factors enabling this return to shareholders. The company is set to release its fiscal 2022 third quarter financial results on April 28, 2022.

Positive

• 10% increase in quarterly dividend to $0.32 per share, indicating strong financial performance.
• Approximately 75% of products are made in North America, suggesting cost efficiency and quality control.
• Strong balance sheet supports sustainable returns to shareholders.

Negative

• None.

Danbury, CT, April 26, 2022 (GLOBE NEWSWIRE) -- Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE:ETD) announced today that its Board of Directors has declared and increased the regular quarterly cash dividend to $0.32 per share, payable on May 25, 2022, to shareholders of record at the close of business on May 10, 2022.

Farooq Kathwari, Ethan Allen’s Chairman, President and CEO commented, “We are pleased to increase our regular quarterly dividend by 10% to $0.32 per share. The Board’s decision today highlights our strong balance sheet allowing for these returns to shareholders. We believe we are well-positioned due to our relevant offerings, strong retail network, the personal service of our interior design professionals combined with technology, our unique vertical integration structure whereby about 75% of our products are made in our North American manufacturing workshops and strong national logistics with our retail home delivery centers delivering product with white glove service to our clients’ home.”

As previously announced on April 12, 2022, the Company will release its fiscal 2022 third quarter financial results on April 28, 2022. 

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 design centers located throughout the United States and abroad as well as online at ethanallen.com. Ethan Allen owns and operates ten 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
Senior Vice President, Chief Financial Officer and Treasurer
IR@ethanallen.com