GlobeNewswire Inc | Nov 6, 2020 02:16PM EST

November 06, 2020

ATLANTA, Nov. 06, 2020 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE: HVT and HVT.A) announced today, that its board of directors authorized a special cash dividend to be paid on the outstanding shares of the two classes of $1 par value common stock of the company at a rate of $2.00 per share on the common stock and $1.90 per share on the Class A common stock. The board also approved an increase in the quarterly cash dividend to $0.22 per share on the common stock and $0.20 per share on the Class A common stock. The special cash dividend and regular quarterly dividend will be paid together on December 9, 2020 to stockholders of record at the close of business on November 23, 2020. Havertys has paid a cash dividend in each year since 1935.

Clarence H. Smith, chairman, president and chief executive officer, said, "Our board of directors authorized several steps taken earlier this year to ensure our liquidity due to the uncertainty facing the economy. Our operating results since reopening our stores in May have been very good. The boards decision today to pay a special dividend, provides returns to Havertys stockholders, maintains a safeguard against potential headwinds, and preserves capital for potential opportunities.

About Havertys

Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 120 showrooms in 16 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the companys website, havertys.com.

Contact:Haverty Furniture Companies, Inc., 404-443-2900Jenny Hill ParkerSVP, Finance, and Corporate Secretary

SOURCE: Havertys