On May 20, 2023, HAVERTYS (HVT) announced a 7.1% dividend hike to $0.30 quarterly per share. The quarterly dividend for the company's Class A common stock is also being increased from $0.26 to $0.28 per share. The dividend is payable on June 21, 2023, to stockholders of record at the close of business on June 6, 2023. Havertys has paid a cash dividend in each year since 1935.
The dividend yield for HVT is 4.25% based on a stock price of $26.50 and the new annual dividend rate of $1.20 per share. Havertys has now raised the dividend 14 consecutive years.
Clarence H. Smith, chairman and chief executive officer, said, "The board's decision to increase the quarterly dividend reflects our long-term outlook, strong financial position, and our commitment to Havertys stockholders."
Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with showrooms in multiple 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.