HNI Corp (NYSE:HNI) Plans Quarterly Dividend of $0.31

HNI Corp (NYSE:HNI) announced a quarterly dividend on Tuesday, August 6th, RTT News reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.305 per share by the business services provider on Tuesday, September 3rd. This represents a $1.22 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, August 15th.

HNI has increased its dividend payment by an average of 3.8% annually over the last three years and has increased its dividend every year for the last 7 years. HNI has a payout ratio of 50.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HNI to earn $2.91 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 41.9%.

NYSE HNI opened at $31.31 on Wednesday. HNI has a fifty-two week low of $30.91 and a fifty-two week high of $44.79. The company has a current ratio of 1.21, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $33.94. The stock has a market cap of $1.38 billion, a PE ratio of 12.99 and a beta of 1.22.

HNI (NYSE:HNI) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). HNI had a return on equity of 18.33% and a net margin of 4.02%. The business had revenue of $526.00 million during the quarter, compared to analysts’ expectations of $551.13 million. During the same quarter last year, the business posted $0.44 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that HNI will post 2.6 EPS for the current year.

A number of research analysts have recently commented on HNI shares. Sidoti set a $45.00 target price on HNI and gave the company a “hold” rating in a research note on Friday, May 31st. ValuEngine cut HNI from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded HNI from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, TheStreet cut HNI from a “b” rating to a “c+” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.

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Dividend History for HNI (NYSE:HNI)

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