Haverty Furniture Companies Inc. (HVT) shares popup 4.42% in after-hours on Friday, November 05, 2021, and closed the weekly trading at $33.75. Even in the regular trading session, HVT’s stock gained 3.76%. HVT shares have risen 31.83% over the last 12 months, and they have moved up 12.61% in the past week. Over the past three months, the stock has lost 13.84%, while over the past six months, it has declined 30.69%.

Let’s see what’s going on with the company recently?

HVT special Dividend declaration

On November 05, 2021, the board of directors of HAVERTYS (HVT and HVT.A) authorized a special cash dividend to be paid on the outstanding shares of the two classes of $1 par value common stock of the company at a rate of $2.00 per share on the common stock and $1.90 per share on the Class A common stock.

The board also approved the payment of the quarterly cash dividend of $0.25 per share on the common stock and $0.23 per share on the Class A common stock. The special cash dividend and the regular quarterly dividend will be paid together on December 8, 2021, to stockholders of record at the close of business on November 22, 2021.

HVT stock repurchase program

The board also approved a new stock repurchase program that permits the company to purchase up to $25.0 million of its common stock and Class A common stock once the approximately $22.3 million remaining authorization is utilized.

HVT recent financial results announcement

On October 28, 2021, HAVERTYS (HVT and HVT.A), released its financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

• HVT reported sales of $260.4 million for Q3 2021 compared to $217.5 million for Q3 2020.
• The gross profit margin was 56.8% in Q3 2021 compared to 56.2% for the same period of 2020.
• Total expenses for Q3 2021 were $116.16 million compared to $97.7 million in Q3 2020.
• It earned a net income of $24.23 million in Q3 2021 compared to a net income of $18.26 million in Q3 2020.
• Diluted earnings per common share were $1.31 compared to$0.97 in Q3 2020.
• As of September 30, 2021, the company had a total of $232.4 million in cash and cash equivalents.

Conclusion

The recent dividend declaration was the reason behind its top-notch performance on Friday. Let’s see how it commence the new week trading on Monday?