Hooker Furniture Co. (NASDAQ:HOFT) to Issue Dividend Increase – $0.16 Per Share

Hooker Furniture Co. (NASDAQ:HOFT) declared a quarterly dividend on Thursday, December 5th, Fidelity reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.16 per share on Monday, December 30th. This represents a $0.64 annualized dividend and a yield of 2.63%. The ex-dividend date is Friday, December 13th. This is a boost from Hooker Furniture’s previous quarterly dividend of $0.15.

Hooker Furniture has increased its dividend payment by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Hooker Furniture has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings.

Shares of HOFT stock traded up $0.49 during mid-day trading on Wednesday, reaching $24.38. The stock had a trading volume of 123,014 shares, compared to its average volume of 82,495. Hooker Furniture has a 12-month low of $17.09 and a 12-month high of $32.59. The company has a market cap of $282.81 million, a P/E ratio of 11.35 and a beta of 0.44. The business has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $21.80. The company has a current ratio of 3.77, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24.

HOFT has been the subject of a number of research analyst reports. BidaskClub cut Hooker Furniture from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. ValuEngine cut Hooker Furniture from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th.

About Hooker Furniture

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household, hospitality, and contract furniture in the United States. The company operates through Hooker Branded, Home Meridian, and All Other segments. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture.

Featured Story: Swap

Dividend History for Hooker Furniture (NASDAQ:HOFT)

Receive News & Ratings for Hooker Furniture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hooker Furniture and related companies with MarketBeat.com's FREE daily email newsletter.