HAVERTYS (HVT) will raise its quarterly dividend by 13.6 percent to $0.25 per share in Q2 of 2021. Last year the company cut its dividend in Q2, but also paid a special dividend of $2.00 per share in December.

The next dividend is payable on June 16, 2021, to stockholders of record at the close of business on June 1, 2021. The new annual dividend rate of $1.00 per share yields 2.2% at a stock price of $44.92. 

Clarence H. Smith, chairman and chief executive officer, said, "Our operating results since the last half of 2020 have been outstanding. We have a long history of providing returns to stockholders and the board’s decision to increase the dividend reflects our results and outlook.”

Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 120 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.