Bassett Furniture Industries (BSET) Raises Quarterly Dividend 11.1% to $0.10; New Director Named

Bassett Furniture Industries (NASDAQ: BSET) declared a quarterly dividend of $0.10 per share, or $0.4 annualized. This is an 11.1% increase from the prior dividend of $0.09.

The dividend will be payable on August 26, 2016, to stockholders of record on August 12, 2016, with an ex-dividend date of August 10, 2016.

The annual yield on the dividend is 1.5 percent.

Bassett also announced that on July 13, 2016, John R. Belk, former President and Chief Operating Officer of Belk, Inc., was elected a member of its Board of Directors. The Company’s Chairman and CEO, Robert H. Spilman, Jr., said, “We are pleased and excited to have a director of Johnny Belk’s caliber join our Board. Johnny has more than thirty years of experience in retail as well as two decades of public company board service, making him a welcome and valuable addition.”

Mr. Belk joined Belk, Inc. in 1983 and served as President and Chief Operating Officer of Belk, Inc. from May 2004 to January 2016 and as a director from 1998 to 2015. He now serves as a Director of Belk/Sycamore and as the Vice Chair of The Belk Foundation. From 1997 to 2014, Mr. Belk was a director of Harris Teeter Supermarkets, Inc. (formerly Ruddick Corporation). Mr. Belk was a director of Bank of America from 2004 to 2007, and was a director of Alltel Corporation from 1996 to 2007.

For a dividend history and other dividend-related data on Bassett Furniture Industries (BSET) click here.

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