Hooker Furnishings Declares Increased Quarterly Dividend

Rhea-AI Summary

Hooker Furnishings Corporation (Nasdaq-GS: HOFT) has declared a quarterly cash dividend of $0.22 per share, representing a 10% increase over the previous dividend. This marks the seventh consecutive annual dividend increase. The dividend will be payable on December 30, 2022, to shareholders of record as of December 16, 2022. Founded nearly a century ago, Hooker Furnishings specializes in designing, marketing, and importing various furniture products for residential and commercial markets, with a strong emphasis on quality and customization.

Positive

• Dividend increased by 10%, enhancing shareholder value.
• Seventh consecutive annual dividend increase reflects company stability.
• Hooker Furnishings has a diverse product range catering to multiple market segments.

Negative

• None.

MARTINSVILLE, Va., Dec. 06, 2022 (GLOBE NEWSWIRE) -- Hooker Furnishings Corporation (Nasdaq-GS: HOFT) announced that on December 5, 2022, its board of directors declared a quarterly cash dividend of $0.22 per share, payable on December 30, 2022 to shareholders of record at December 16, 2022. This represents a 10% increase over the previous quarterly dividend and the seventh consecutive annual dividend increase.

Hooker Furnishings Corporation, in its 98th year of business, is a designer, marketer and importer of casegoods (wooden and metal furniture), leather furniture, and fabric-upholstered furniture 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, Sam Moore Furniture, a specialist in upscale occasional chairs, settees, sofas and sectional seating with an emphasis on cover-to-frame customization, 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 Accentrics Home, home furnishings centered around an eclectic mix of unique pieces and materials that offer a fresh take on home fashion, 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, 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., and Ho Chi Minh City, Vietnam. The company operates distribution centers in North Carolina, Virginia, Georgia, California, China and Vietnam. Please visit our websites hookerfurnishings.com, hookerfurniture.com, bradington-young.com, sammoore.com, hcontractfurniture.com, homemeridian.com, pulaskifurniture.com, accentricshome.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 amount declared by Hooker Furnishings Corporation?

The declared dividend amount is $0.22 per share.

When will the dividend be paid to shareholders?

The dividend will be payable on December 30, 2022.

What is the record date for the dividend payment?

The record date for the dividend payment is December 16, 2022.

How many consecutive years has Hooker Furnishings increased its dividend?

Hooker Furnishings has increased its dividend for seven consecutive years.