Bassett Boosts Buyback, Declares Special Dividend

by Shivani Kumaresan, Benzinga Staff Writer

March 11, 2022 10:17 AM | 1 min read |

Bassett Furniture Industries Inc's BSET Board has increased the company's share repurchase authorization to $40 million.
The Board has declared a special dividend of $1.50 per share of common stock, payable on April 6, 2022, to shareholders of record on March 23, 2022.
The Board also declared a regular quarterly dividend of $0.14 per share of common stock payable on May 27, 2022, to shareholders of record on May 13, 2022.
"Although we are in uncertain times with increased fuel costs, rampant inflation, and the war in Ukraine, the housing market and home furnishings demand remains relatively strong,” said Chairman and CEO Rob Spilman.
Bassett held $52.1 million in cash and equivalents as of November 27, 2021.
Price Action: BSET shares are trading higher by 6.25% at $18.63 on the last check Friday.