Hooker Furnishings Co. to Issue Quarterly Dividend of $0.23 (NASDAQ:HOFT)

Hooker Furnishings Co. (NASDAQ:HOFT) announced a quarterly dividend on Tuesday, December 3rd,RTT News reports. Investors of record on Friday, December 13th will be paid a dividend of 0.23 per share on Monday, December 30th. This represents a $0.92 annualized dividend and a yield of 4.88%.

Hooker Furnishings has increased its dividend payment by an average of 10.5% annually over the last three years. Hooker Furnishings has a dividend payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hooker Furnishings to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 61.3%.

Hooker Furnishings Price Performance

NASDAQ HOFT traded up $0.13 during trading on Tuesday, reaching $18.86. 18,958 shares of the company’s stock were exchanged, compared to its average volume of 20,315. The business has a 50 day moving average price of $17.32 and a 200-day moving average price of $16.05. The stock has a market capitalization of $202.07 million, a P/E ratio of 145.08 and a beta of 1.22. Hooker Furnishings has a fifty-two week low of $13.09 and a fifty-two week high of $27.15.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. The business had revenue of $95.08 million for the quarter, compared to analyst estimates of $93.54 million. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, analysts forecast that Hooker Furnishings will post -0.37 earnings per share for the current year.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.