Havertys announces third quarter cash dividend and new
ATLANTA, Aug 06, 2021 (GLOBE NEWSWIRE) – HAVERTYS (NYSE: HVT and HVT.A) today announced that its board of directors has declared a cash dividend payable on the outstanding shares of both classes of common shares of $ 1 par value shares of the company at the rate of $ 0.25 per share on common shares and $ 0.23 per share on Class A common shares. Dividend is payable on September 8, 2021 to shareholders of record at the close of business on August 23, 2021. Havertys has paid a cash dividend every year since 1935.
The board of directors also approved a new authorization as part of its share repurchase program which allows the company to purchase up to $ 25.0 million of its common shares and Class A common shares a time the remaining authorization of approximately $ 8.2 million is used up. The company repurchased approximately 235,000 common shares for $ 8.6 million during the third quarter of 2021. The shares may be repurchased, at the discretion of the company, from time to time in the open market or in connection with privately negotiated transactions.
Clarence H. Smith, President 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 generation of cash flow to drive future growth and return capital to shareholders using a balanced approach.
Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 122 showrooms in 16 states throughout the Southern and Midwestern regions offering customers a wide selection of quality goods in the middle to upper- middle price ranges. Additional information is available on the Company’s website at www.havertys.com.