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Bassett Furniture (BSET) - Raises Dividend, Increases Buyback Authorization

Monday, July 19, 2021

Bassett Furniture (BSET)
Raises Dividend, Increases Buyback Authorization

Bassett Furniture Industries Inc is a manufacturer, importer, and retailer of home furnishings products in the United States. It operates through the following segments: The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of company-owned stores. The Logistical Services segment offers shipping, delivery, and warehousing services.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Dividend Increase. Basset's Board of Directors approved a 12% increase in the quarterly dividend to $0.14 per share from a prior $0.125 per share. At the current price, the projected annual dividend of $0.56 per share equates to a 2.2% dividend yield. And this does not include the special dividend the Company often announces that has historically ranged in the $0.20-$0.35 per share range.

    Increases Buyback Authorization.  Bassett also increased its share repurchase authorization by $16 million to $20 million. Back in October 2018, Bassett had increased its authorization to $20 million, indicating the Company has repurchased $16 million of stock, or roughly 6.5% of the current market capitalization, since then. With the shares drifting lower since hitting a 52-week high of $37 in ...

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

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