Ethan Allen Declares Special Cash Dividend and Regular Quarterly Cash Dividend

Rhea-AI Summary

Ethan Allen Interiors has declared a special cash dividend of $0.75 per share alongside a quarterly cash dividend of $0.25. Both dividends are payable on August 31, 2021, to shareholders on record as of August 17, 2021. The company reported a remarkable performance in fiscal 2021, with a 94.7% increase in consolidated net sales and a 105.0% rise in retail segment written orders. The CEO expressed optimism for future growth, highlighting the company’s robust infrastructure and strong market position.

Positive

• Declared a special cash dividend of $0.75 per share and a regular quarterly dividend of $0.25 per share.
• Consolidated net sales increased by 94.7% compared to the previous year.
• Retail segment written orders grew by 105.0% year-over-year.
• Strong manufacturing capabilities with 75% of products made in North America.

Negative

• None.

DANBURY, CT, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Ethan Allen Interiors Inc. (“Ethan Allen” or “the Company”) (NYSE:ETH) announced today that its Board of Directors has declared a $0.75 per share special cash dividend to shareholders of record on August 17, 2021, payable on August 31, 2021. The Board also declared a regular quarterly cash dividend of $0.25 per share, payable on August 31, 2021 to shareholders of record at the close of business on August 17, 2021.

Farooq Kathwari, Ethan Allen’s Chairman, President and CEO commented, “Our business performed well in fiscal 2021. We have a strong history of returning capital to shareholders and are pleased to continue this practice. Accordingly, we are announcing a special cash dividend of $0.75 along with our regular quarterly cash dividend of $0.25. As we head into the fiscal 2022 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.”

As previously announced on July 22, 2021, the Company will release its fiscal 2021 fourth quarter and full year financial results on August 9, 2021. The Company mentioned in the announcement that its fiscal 2021 fourth quarter retail segment written orders increased 105.0% over the prior year and consolidated net sales grew 94.7%.

ABOUT ETHAN ALLEN

Ethan Allen Interiors Inc. (NYSE: ETH) is a leading interior design company, manufacturer and retailer in the home furnishings marketplace. The Company provides complimentary interior design service to its clients and sells a full range of furniture products and decorative home accents 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, including six manufacturing plants in the United States, two manufacturing plants in Mexico and one manufacturing plant in Honduras. 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 on August 3, 2021?

Ethan Allen declared a special cash dividend of $0.75 per share and a regular quarterly dividend of $0.25 per share.

When will the dividends be paid to shareholders?

The dividends are payable on August 31, 2021.

What is the record date for Ethan Allen's dividends?

The record date for both dividends is August 17, 2021.

What were Ethan Allen's earnings results for fiscal 2021?

The company reported a 94.7% increase in consolidated net sales and a 105.0% increase in retail segment written orders.

How much of Ethan Allen's products is manufactured in North America?

Approximately 75% of Ethan Allen's products are manufactured or assembled in their North American facilities.