Benzinga | Jul 15, 2021 11:12AM EDT

Bassett Furniture Hikes Dividend By 12%, Boosts Buyback

* Bassett Furniture Industries Inc (NASDAQ:BSET) said its Board of Directors has increased the quarterly dividend by 12% to $0.14 per share of outstanding common stock.

* The dividend is payable on August 27, 2021, to shareholders of record at the close of business on August 13, 2021.

* The Board has also increased the share repurchase authorization by about $16 million back to the original limit of $20 million.

* The company also reported that wholesale orders for the fiscal month of June 2021 increased by 25% year-on-year. The wholesale shipments increased 55% Y/Y.

* Cash and equivalents totaled $45.77 million as of May 29, 2021.

* Price action: BSET shares are trading higher by 1.21% at $25.08 on the last check Thursday.