Hooker Furnishings raises dividend, to push implied yield above 3%

Hooker Furnishings Corp. /zigman2/quotes/208632343/composite HOFT +0.07% said Wednesday it raised its quarterly dividend by 11%, to 20 cents a share from 18 cents. The furniture retailer's new dividend is payable on Dec. 31 to shareholders of record on Dec. 17. The stock was still inactive in premarket trading. Based on Tuesday's closing price of $24.80, the new annual dividend rate implies a dividend yield of 3.23%, compared with the yield for the SPDR S&P Retail ETF /zigman2/quotes/206947004/composite XRT -1.21% of 0.76% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.33% of 1.32%. The stock has tumbled 19.7% over the past three months, while the S&P 500 has gained 24.8%.

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Hooker Furnishings Corp.

US : U.S.: Nasdaq

$ 15.94

+0.01 +0.07%

Volume: 17,701

June 5, 2023 12:46p

P/E Ratio

N/A

Dividend Yield

5.49%

Market Cap

$176.08 million

Rev. per Employee

$463,147

/zigman2/quotes/206947004/composite

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SPDR S&P Retail ETF

US : U.S.: NYSE Arca

$ 58.76

-0.72 -1.21%

Volume: 2.92M

June 5, 2023 12:47p

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S&P 500 Index

US : S&P US

4,296.58

+14.21 +0.33%

Volume: 0.00

June 5, 2023 12:47p