Havertys (HVT) Board Approves $10M Common Stock Buyback Program

HAVERTYS (NYSE: HVT) and (NYSE: HVT-A) announced that on May 25, 2016 its board of directors approved a new authorization under its stock repurchase program that permits the company to purchase up to $10.0 million of its common stock and Class A common stock. The company has approximately $0.2 million remaining for purchases under a previously approved authorization. Shares may be repurchased, at the company’s discretion, from time-to-time in the open market or in privately negotiated transactions.

“The decision of our board of directors to provide additional authorization for stock repurchases is reflective of our strong balance sheet and demonstrates confidence in our ability to generate sufficient cash to make important investments in our business and to return value to our stockholders,” Clarence Smith, chairman, president and CEO, said.

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