Hooker Furnishings Declares Increased Quarterly Dividend

Rhea-AI Summary

Hooker Furnishings Corporation (HOFT) declared a quarterly cash dividend of $0.23 per share, representing a 4.5% increase over the previous quarterly dividend. The company is a designer, marketer, and importer of furniture, lighting, accessories, and home decor. Hooker Furnishings also manufactures premium residential custom leather and custom fabric-upholstered furniture and outdoor furniture.

MARTINSVILLE, Va., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Hooker Furnishings Corporation (Nasdaq-GS: HOFT) announced that on December 5, 2023, its board of directors declared a quarterly cash dividend of $0.23 per share, payable on December 29, 2023 to shareholders of record at December 15, 2023. This represents a $0.01 per share or 4.5% increase over the previous quarterly dividend and the eighth consecutive annual dividend increase.

Hooker Furnishings Corporation, in its 99th year of business, is a designer, marketer and importer of casegoods (wooden and metal furniture), leather furniture, fabric-upholstered furniture, lighting, accessories, and home décor for the residential, hospitality and contract markets. The Company also domestically manufactures premium residential custom leather and custom fabric-upholstered furniture and outdoor furniture. Major casegoods product categories include home entertainment, home office, accent, dining, and bedroom furniture in the upper-medium price points sold under the Hooker Furniture brand. Hooker’s residential upholstered seating product lines include Bradington-Young, a specialist in upscale motion and stationary leather furniture, HF Custom (formerly Sam Moore), a specialist in fashion forward custom upholstery offering a selection of chairs, sofas, sectionals, recliners and a variety of accent upholstery pieces, Hooker Upholstery, imported upholstered furniture targeted at the upper-medium price-range and Shenandoah Furniture, an upscale upholstered furniture company specializing in private label sectionals, modulars, sofas, chairs, ottomans, benches, beds and dining chairs in the upper-medium price points for lifestyle specialty retailers. The H Contract product line supplies upholstered seating and casegoods to upscale senior living facilities. The Home Meridian division addresses more moderate price points and channels of distribution not currently served by other Hooker Furnishings divisions or brands. Home Meridian’s brands include Pulaski Furniture, casegoods covering the complete design spectrum in a wide range of bedroom, dining room, accent and display cabinets at medium price points, Pulaski Upholstery, stationary and motion upholstery collections available in fabric and leather covering the complete design spectrum at medium price points, Samuel Lawrence Furniture, value-conscious offerings in bedroom, dining room, home office and youth furnishings, Prime Resources International, value-conscious imported leather upholstered furniture, and Samuel Lawrence Hospitality, a designer and supplier of hotel furnishings. The Sunset West division is a designer and manufacturer of comfortable, stylish and high-quality outdoor furniture. Hooker Furnishings Corporation’s corporate offices and upholstery manufacturing facilities are located in Virginia, North Carolina and California, with showrooms in High Point, N.C., Las Vegas, N.V., Atlanta, G.A. and Ho Chi Minh City, Vietnam. The company operates distribution centers in Virginia, Georgia, and Vietnam. Please visit our websites hookerfurnishings.com, hookerfurniture.com, bradington-young.com, hfcustomfurniture.com, hcontractfurniture.com, homemeridian.com, pulaskifurniture.com, slh-co.com, and sunsetwestusa.com.

For more information, contact:
Paul A. Huckfeldt, Senior Vice President-Finance and CFO
Hooker Furnishings Corporation, 276.666.3949

FAQ

What is the dividend declared by Hooker Furnishings Corporation?

Hooker Furnishings Corporation declared a quarterly cash dividend of $0.23 per share.

What does Hooker Furnishings Corporation do?

Hooker Furnishings Corporation is a designer, marketer, and importer of furniture, lighting, accessories, and home decor. The company also manufactures premium residential custom leather and custom fabric-upholstered furniture and outdoor furniture.

Where are Hooker Furnishings Corporation's corporate offices and manufacturing facilities located?

Hooker Furnishings Corporation's corporate offices and upholstery manufacturing facilities are located in Virginia, North Carolina, and California, with showrooms in High Point, NC, Las Vegas, NV, Atlanta, GA, and Ho Chi Minh City, Vietnam.

What are the major product categories of Hooker Furnishings Corporation?

The major product categories of Hooker Furnishings Corporation include home entertainment, home office, accent, dining, and bedroom furniture in the upper-medium price points sold under the Hooker Furniture brand. The company's residential upholstered seating product lines include Bradington-Young, HF Custom, Hooker Upholstery, and Shenandoah Furniture. The H Contract product line supplies upholstered seating and casegoods to upscale senior living facilities. The Home Meridian division addresses more moderate price points and channels of distribution not currently served by other Hooker Furnishings divisions or brands. The Sunset West division is a designer and manufacturer of outdoor furniture.

What are the brands under Home Meridian division of Hooker Furnishings Corporation?

The brands under Home Meridian division of Hooker Furnishings Corporation include Pulaski Furniture, Pulaski Upholstery, Samuel Lawrence Furniture, Prime Resources International, and Samuel Lawrence Hospitality.