HNI Corporation Increases Quarterly Dividend

Rhea-AI Summary

HNI (NYSE: HNI) has announced an increase in its quarterly dividend to 33 cents per share on its common stock, payable on June 12, 2024. Shareholders of record by the close of business on May 24, 2024, will be eligible to receive the dividend. HNI, a company with more than 75 years of history, operates through two main segments: Workplace Furnishings and Residential Building Products. The first is a global designer and provider of commercial furnishings, while the latter is a leading manufacturer and marketer of hearth products including fireplaces and stoves.

Positive

• HNI has increased its quarterly dividend to 33 cents per share.
• The dividend will be payable on June 12, 2024.
• Eligibility for the dividend includes shareholders of record as of May 24, 2024.
• HNI's long-standing history of over 75 years indicates stability and experience in the industry.
• The company operates under two segments: Workplace Furnishings and Residential Building Products, diversifying its revenue streams.

Negative

• The increase in dividend could imply a scope for reinvestment into growth opportunities.
• No new strategic initiatives or significant business developments were mentioned in the announcement.
• The press release lacks detailed financial data which could provide more insights into the company's overall financial health.

MUSCATINE, Iowa--(BUSINESS WIRE)-- HNI Corporation (NYSE: HNI) announced today its Board of Directors declared a quarterly dividend of 33 cents per share on its common stock.

The dividend will be payable on June 12, 2024, to shareholders of record at the close of business on May 24, 2024.

About HNI Corporation

HNI Corporation (NYSE: HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the nation's leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. More information can be found on the Corporation's website at www.hnicorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513241684/en/

Marshall H. Bridges, Senior Vice President and Chief Financial Officer (563) 272-7400

Matthew S. McCall, Vice President, Investor Relations and Corporate Development (563) 275-8898

Source: HNI Corporation

FAQ

When will HNI 's increased dividend be payable?

The increased dividend will be payable on June 12, 2024.

What is the amount of HNI 's new quarterly dividend?

The new quarterly dividend is 33 cents per share.

Who is eligible to receive HNI 's increased dividend?

Shareholders of record at the close of business on May 24, 2024, are eligible.

What are the two main segments HNI operates under?

HNI operates under Workplace Furnishings and Residential Building Products.

What type of products does HNI's Residential Building Products segment offer?

The Residential Building Products segment offers gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories.

How long has HNI been in business?

HNI has been in business for more than 75 years.