Bassett Furniture Industries (BSET) has decided to defer its next quarterly dividend to be paid on May 29 because of the COVID-19 pandemic. This means it is unknown when and if shareholders will receive a next quarterly dividend by the home furnishings company.

In today's press release announing the fiscal first quarter results the company states that is has decided to defer the regular quarterly dividend due to be paid on May 29 until the company learns more about the financial ramifications of a potentially long period of nationwide economic inactivity and hardship.

Bassett Furniture Industries last paid a quarterly dividend of 12.5 cents per share on February 28, 2020. Bassett did not announce a dividend hike in 2019 with the last increase dating back to 2018.

Bassett Furniture Industries is a retailer, manufacturer and marketer of branded home furnishings. The company's products are sold primarily through a network of company-owned and licensee-owned branded stores under the Bassett Home Furnishings name, with additional distribution through other wholesale channels including multi-line furniture stores, many of which feature Bassett galleries or design centers. The company was founded in 1902 and incorporated under the laws of Virginia in 1930. Bassett Furniture Industries restarted dividend payments in 2011 and decided to defer its dividend in Q2 of 2020 because of the COVID-19 pandemic.