HNI Corporation (HNI) to Issue Quarterly Dividend of $0.35 on June 10th

HNI Corporation (NYSE:HNI) announced a quarterly dividend on Monday, May 18th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.35 per share by the business services provider on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, May 29th. This is a 2.9% increase from HNI’s previous quarterly dividend of $0.34.

HNI has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 15 years. HNI has a payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HNI to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 28.3%.

HNI Trading Up 2.1%

Shares of HNI stock opened at $31.34 on Wednesday. HNI has a 12-month low of $28.93 and a 12-month high of $53.29. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average price is $34.37 and its 200-day moving average price is $40.68. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 76.44, a price-to-earnings-growth ratio of 0.38 and a beta of 1.01.

HNI (NYSE:HNI) last issued its earnings results on Wednesday, May 6th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. HNI had a return on equity of 13.17% and a net margin of 0.04%.The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue was up 124.7% compared to the same quarter last year. Equities research analysts predict that HNI will post 4 EPS for the current fiscal year.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.