Havertys Announces Special Cash Dividend and Increase in Quarterly Dividend
ATLANTA, Nov. 06, 2020 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE: HVT and HVT.A) announced today, that its board of directors authorized a special 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 $2.00 per share on the common stock and $1.90 per share on the Class A common stock. The board also approved an increase in the quarterly cash dividend to $0.22 per share on the common stock and $0.20 per share on the Class A common stock. The special cash dividend and regular quarterly dividend will be paid together on December 9, 2020 to stockholders of record at the close of business on November 23, 2020. Havertys has paid a cash dividend in each year since 1935.
Clarence H. Smith, chairman, president and chief executive officer, said, "Our board of directors authorized several steps taken earlier this year to ensure our liquidity due to the uncertainty facing the economy. Our operating results since reopening our stores in May have been very good. The board’s decision today to pay a special dividend, provides returns to Havertys stockholders, maintains a safeguard against potential headwinds, and preserves capital for potential opportunities.”
About Havertys
Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 120 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
