Hooker Furniture Declares Increased Quarterly Dividend

Rhea-AI Summary

Hooker Furniture Corporation (NASDAQ-GS: HOFT) declared a quarterly cash dividend of $0.18 per share on December 2, 2020, representing a 12.5% increase from the previous quarter. The dividend is payable on December 31, 2020, to shareholders of record as of December 16, 2020. This marks the fifth consecutive annual dividend increase for the company, which has been in business for 97 years. Hooker Furniture is a major player in the furniture market, specializing in casegoods and upholstered furniture across various price points.

Positive

• Quarterly cash dividend increased by 12.5% to $0.18 per share.
• Fifth consecutive annual dividend increase indicates strong shareholder returns.

Negative

• None.

MARTINSVILLE, Va., Dec. 02, 2020 (GLOBE NEWSWIRE) -- Hooker Furniture Corporation (NASDAQ-GS: HOFT) announced that on December 2, 2020, its board of directors declared a quarterly cash dividend of $0.18 per share, payable on December 31, 2020 to shareholders of record at December 16, 2020. This represents a 12.5% increase over the previous quarterly dividend and the fifth consecutive annual dividend increase.

Hooker Furniture Corporation, in its 97th year of business, is a designer, marketer and importer of casegoods (wooden and metal furniture), leather-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 2019 shipments to U.S. retailers, according to a 2020 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 Furniture 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, Samuel Lawrence Hospitality, a designer and supplier of hotel furnishings and HMidea, a 2019 start-up that provides better-quality, ready-to-assemble furniture to mass marketers and e-commerce customers. Hooker Furniture 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 eight distribution centers in North Carolina, Virginia, California and Vietnam. Please visit our websites 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 Furniture Corporation, 276.666.3949

FAQ

What is the dividend amount declared by Hooker Furniture Corporation?

Hooker Furniture Corporation declared a quarterly cash dividend of $0.18 per share.

When is the dividend for HOFT payable?

The dividend is payable on December 31, 2020.

What date is the record for HOFT shareholders for the dividend?

The record date for shareholders is December 16, 2020.

How much has the dividend increased for HOFT?

The dividend increased by 12.5% compared to the previous quarterly dividend.

How long has Hooker Furniture Corporation been in business?

Hooker Furniture Corporation has been in business for 97 years.