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Havertys – Special Cash Dividend and Quarterly Dividend Announced

ATLANTA, Nov. 08, 2016 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE:HVT) (NYSE:HVT.A) announced today that its board of directors authorized a special cash dividend to be paid on the outstanding shares of Havertys’ two classes of common stock at a rate of $1.00 per share on the common stock and $0.95 per share on the Class A common stock. The board also approved a quarterly cash dividend of $0.12 per share on the common stock and $0.1125 per share on the Class A common stock. The special cash dividend and regular quarterly dividend will be paid together on December 9, 2016 to stockholders of record at the close of business on November 23, 2016.

“The decision of our board of directors to pay a special dividend together with the stock repurchases we have made year to date represents approximately $42.3 million towards our ongoing efforts to provide returns to our stockholders.” Clarence Smith, chairman, president and CEO, said. “These actions also demonstrate confidence in our ability to generate sufficient cash to execute our strategies for growing Havertys’ business and increasing stockholder value.”

Havertys (NYSE:HVT) (NYSE:HVT.A), established in 1885, is a full-service home furnishings retailer with 123 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. Havertys has paid a cash dividend in each year since 1935. Additional information is available on the company’s website at www.havertys.com.

Contact: Haverty Furniture Companies, Inc., 404-443-2900 Jenny Hill Parker SVP, Finance, Secretary and Treasurer

Source:Haverty Furniture Companies, Inc.