HNI Corporation (HNI) Declares $0.29 Quarterly Dividend

HNI Corporation (NYSE:HNI) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Investors of record on Friday, August 18th will be given a dividend of 0.285 per share by the business services provider on Friday, September 1st. This represents a $1.14 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, August 16th.

HNI Corporation has raised its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend every year for the last 5 years. HNI Corporation has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HNI Corporation to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 38.5%.

HNI Corporation (NYSE HNI) traded up 0.40% during midday trading on Friday, reaching $35.05. 245,644 shares of the company were exchanged. HNI Corporation has a one year low of $34.60 and a one year high of $56.96. The firm has a market cap of $1.54 billion, a P/E ratio of 25.18 and a beta of 1.41. The firm’s 50-day moving average is $37.77 and its 200-day moving average is $43.07.

HNI Corporation (NYSE:HNI) last announced its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $514.50 million during the quarter, compared to the consensus estimate of $516.10 million. HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. On average, equities analysts expect that HNI Corporation will post $2.45 EPS for the current fiscal year.

In other news, Chairman Stanley A. Askren sold 11,264 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $46.01, for a total value of $518,256.64. Following the sale, the chairman now owns 204,996 shares of the company’s stock, valued at approximately $9,431,865.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.16% of the stock is currently owned by corporate insiders.

Several brokerages have issued reports on HNI. BidaskClub lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Zacks Investment Research lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Finally, TheStreet lowered shares of HNI Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $47.00.

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HNI Corporation Company Profile

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

Dividend History for HNI Corporation (NYSE:HNI)

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