Bassett Furniture Industries (BSET) will restore its quarterly dividend to $0.125 per share. This is the pre-COVID level. The company decided to defer its prior quarterly dividend to be paid on May 29 because of the COVID-19 pandemic. In July a lower dividend of 8 cents was announced.

The next dividend of 12.5 cents is payable on November 27, 2020 to shareholders of record at the close of business on November 13, 2020. The 50 cent per share annual dividend yields 3.2% at a stock price of $15.60.

“Our incoming wholesale order rate continued the recent trend in September, exceeding the prior year by 39%,” said Rob Spilman, Chairman and CEO. “In acknowledgement of this sales trend and the corresponding strengthening of our balance sheet, we are pleased to announce that our Board of Directors restored our dividend to its pre-COVID level.”

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 initiated a dividend in 2011 and decided to defer its dividend in Q2 of 2020 because of the COVID-19 pandemic.