Ethan Allen Interiors Inc. (NYS:ETD) said late Tuesday its board of directors has authorized a 16% dividend increase, highlighting the retailer's "strong balance sheet." The dividend of 29 cents a share will be payable on Jan. 5 to shareholders of record as of Dec. 14, the company said. "As we head into the 2022 calendar year, we believe we have a great opportunity to continue our growth in sales and profitability," Chief Executive Farooq Kathwari said in a statement. About 75% of Ethan Allen's products are made in North American manufacturing workshops, and its "strong" logistics network of distribution centers and retail home delivery centers is delivering products to clients, he said. "We look forward to continuing our progress and remain cautiously optimistic," Kathwari said. Shares of Ethan Allen were flat in the extended session after ending the regular trading day down 1%.
Nov. 30, 2021, 4:28 p.m. EST