Havertys Announces Increase in Quarterly Dividend

Rhea-AI Summary

Havertys (NYSE: HVT, HVT-A) announced a significant 12% increase in its quarterly dividend, raising it from $0.25 to $0.28 per share for common stock, and from $0.23 to $0.26 for Class A common stock. The dividends are set to be paid on June 17, 2022, to shareholders of record by June 2, 2022. With a history of paying dividends since 1935, this decision reflects Havertys' strong financial position and commitment to shareholder returns, as stated by CEO Clarence H. Smith.

Positive

• 12% increase in quarterly dividend signals strong financial health.
• Quarterly dividend raises from $0.25 to $0.28 for common stock and from $0.23 to $0.26 for Class A.
• Dividend payment history since 1935 indicates reliability and investor confidence.

Negative

• None.

ATLANTA, May 17, 2022 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE: HVT and HVT.A) announced today that its board of directors declared a 12% increase in the quarterly dividend rate, from $0.25 per share to $0.28 per share on the company’s common stock. The quarterly dividend for the company’s Class A common stock is also being increased from $0.23 per share to $0.26 per share. The dividend is payable on June 17, 2022 to stockholders of record at the close of business on June 2, 2022. Havertys has paid a cash dividend in each year since 1935.

Clarence H. Smith, chairman and chief executive officer, said, "The board’s decision to increase the dividend reflects our strong financial position and long-term outlook and the importance of shareholder returns as part of our balanced capital allocation strategy.”

About Havertys

Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 122 showrooms in 16 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the company’s website, havertys.com.

Contact:
Haverty Furniture Companies, Inc., 404-443-2900
Jenny Hill Parker
SVP, Finance, and Corporate Secretary

SOURCE: Havertys

FAQ

What is the new dividend amount declared by Havertys for HVT and HVT.A?

Havertys has increased its quarterly dividend to $0.28 per share for common stock and $0.26 for Class A common stock.

When is the dividend payment date for Havertys?

The dividend is payable on June 17, 2022.

What is the record date for the Havertys dividend?

The record date for the dividend is June 2, 2022.

How long has Havertys been paying dividends?

Havertys has been paying cash dividends since 1935.

Why did Havertys increase its dividend?

The increase reflects Havertys' strong financial position and their commitment to shareholder returns.