ATLANTA, Aug. 08, 2017 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE:HVT) (NYSE:HVT.A) announced today that its board of directors approved a 25% increase in its dividend, raising the quarterly amount from $0.12 per share to $0.15 per share on the company’s common stock. The quarterly dividend for the company’s Class A common stock was also increased from $0.1125 to $0.1425.
Clarence H. Smith, chairman, president, and CEO, said, “We have invested heavily in our stores and infrastructure over the last several years and returned significant capital to stockholders. This dividend increase reflects our confidence in the strength of our ongoing cash flow generation while still maintaining flexibility for future growth."
The dividend is payable on September 8, 2017, to shareholders of record at the close of business on August 23, 2017. Havertys has paid a cash dividend in each year since 1935 and the new quarterly rate is the highest in its history.
About Havertys
Havertys (NYSE:HVT) (NYSE:HVT.A), established in 1885, is a full-service home furnishings retailer with 124 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
SOURCE: Havertys