Havertys Announces Third Quarter Cash Dividend and New Authorization Under Stock Repurchase Program
06 Agosto 2021 - 3:11PM
HAVERTYS (NYSE: HVT and HVT.A) announced today that its board
of directors declared a cash dividend to be paid on the outstanding
shares of the two classes of $1 par value common stock of the
company at a rate of $0.25 per share on the common stock and $0.23
per share on the Class A common stock. The dividend is payable
on September 8, 2021, to stockholders of record at the close
of business on August 23, 2021. Havertys has paid a cash
dividend in each year since 1935.
The board also approved a new authorization
under its stock repurchase program that permits the company to
purchase up to $25.0 million of its common stock and Class A common
stock once the approximately $8.2 million remaining authorization
is utilized. The company has repurchased approximately 235,000
shares of common stock for $8.6 million during the third quarter of
2021. Shares may be repurchased, at the company’s discretion, from
time-to-time in the open market or in privately negotiated
transactions.
Clarence H. Smith, chairman and CEO, said, “The
board of directors carefully analyzes our capital allocation. Their
actions today demonstrate the strength of our financial position
and their confidence in our future cash flow generation to drive
future growth and return capital to stockholders using a balanced
approach.”
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 at www.havertys.com.
Contact: Havertys 404-443-2900 Jenny Hill Parker
SVP, finance and corporate secretary
SOURCE: Havertys
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