Hooker Furnishings Declares Increased Quarterly Dividend

Rhea-AI Summary

Hooker Furnishings Corporation (Nasdaq-GS:HOFT) declared a quarterly cash dividend of $0.20 per share on December 7, 2021, payable on December 31, 2021 to shareholders of record by December 17, 2021. This marks an 11.1% increase over the previous dividend and the sixth consecutive annual increase in dividends paid. Founded in its 98th year of business, Hooker Furnishings designs, markets, and imports a variety of furniture for residential and contractual markets, ranking among the largest publicly traded furniture sources in the U.S. based on 2020 shipments.

Positive

• Quarterly cash dividend of $0.20 per share declared, representing an 11.1% increase.
• Sixth consecutive annual dividend increase demonstrates commitment to returning value to shareholders.

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• None.

MARTINSVILLE, Va., Dec. 08, 2021 (GLOBE NEWSWIRE) -- Hooker Furnishings Corporation (Nasdaq-GS:HOFT) announced that on December 7, 2021, its board of directors declared a quarterly cash dividend of $0.20 per share, payable on December 31, 2021 to shareholders of record at December 17, 2021. This represents a 11.1% increase over the previous quarterly dividend and the sixth 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. It is ranked among the nation’s largest publicly traded furniture sources, based on 2020 shipments to U.S. retailers, according to a 2021 survey by a leading trade publication. 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, 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. Hooker Furnishings Corporation’s corporate offices and upholstery manufacturing facilities are located in Virginia and North Carolina, with showrooms in High Point, N.C. 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 and slh-co.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 in December 2021?

Hooker Furnishings declared a quarterly cash dividend of $0.20 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on December 31, 2021.

What is the percentage increase of the dividend announced in December 2021?

The dividend represents an 11.1% increase over the previous quarterly dividend.

What is the record date for shareholders to receive the dividend?

The record date for shareholders to receive the dividend is December 17, 2021.

How many consecutive years has Hooker Furnishings increased its dividend?

Hooker Furnishings has increased its dividend for six consecutive years.