ATLANTA, Feb. 27, 2018 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE:HVT) (NYSE:HVT.A) announced today that its board of directors approved an increase in its quarterly dividend. The board raised the dividend on the company’s common stock 20% from $0.15 per share to $0.18 per share. The quarterly dividend for the company’s Class A common stock was also increased from $0.1425 per share to $0.17 per share.
Clarence H. Smith, chairman, president, and CEO, said, “We continue to review our value creating opportunities and alternatives for returning capital to stockholders. We raised our dividend 25% in the third quarter of 2017 and this additional increase reflects our confidence in funding future growth and discipline in managing our ongoing cash flow generation.”
The dividend is payable on March 29, 2018, to shareholders of record at the close of business on March 14, 2018. Havertys has paid a cash dividend in each year since 1935.
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
Jenny Hill Parker
SVP, finance, secretary and treasurer
Source:Haverty Furniture Companies, Inc.