MARTINSVILLE, Va. - Hooker Furnishings Corporation (NASDAQ:HOFT), a recognized designer, marketer, and importer of furniture, announced Monday that its board of directors has declared a quarterly cash dividend. The dividend, set at $0.23 per share, is to be paid on March 29, 2024, to shareholders of record as of March 18, 2024.
The company, which is in its 99th year of operation, offers a diverse range of furniture products for various markets, including residential, hospitality, and contract sectors. Hooker Furnishings manufactures and imports a variety of furniture categories such as casegoods, leather furniture, and fabric-upholstered furniture, along with lighting, accessories, and home décor.
With a portfolio of brands under its umbrella, Hooker Furnishings caters to upper-medium price points through its Hooker Furniture (NASDAQ:HOFT) line, which includes products for entertainment, office, dining, and bedroom spaces. The company's seating lines feature brands like Bradington-Young, known for its high-end leather furniture, and HF Custom, which offers customizable upholstery.
The Hooker Upholstery and Shenandoah Furniture brands provide imported and upscale upholstered furniture, respectively. Additionally, the H Contract product line serves senior living facilities with upholstered seating and casegoods.
Addressing more moderate price points, the Home Meridian division operates brands such as Pulaski Furniture, Samuel Lawrence Furniture, Prime Resources International, and Samuel Lawrence Hospitality, offering a range of bedroom, dining room, office, and hotel furnishings. The company's Sunset West division specializes in outdoor furniture.
Based in Virginia, with corporate offices, manufacturing facilities, and distribution centers spread across Virginia, North Carolina, California, Georgia, and Vietnam, Hooker Furnishings also maintains showrooms in High Point, N.C., Las Vegas, N.V., Atlanta, G.A., and Ho Chi Minh City, Vietnam.
This dividend declaration reflects the company's ongoing commitment to shareholder returns. The information regarding the dividend and the company's operations is based on a press release statement from Hooker Furnishings Corporation.
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