UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) July 17, 2014
BASSETT FURNITURE INDUSTRIES, INCORPORATED
(Exact name of registrant as specified in its charter)
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VIRGINIA |
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0-209 |
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54-0135270 |
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(State or other jurisdiction of incorporation or organization) |
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(Commission File No.) |
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(I.R.S. Employer Identification No.) |
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3525 FAIRYSTONE PARK HIGHWAY BASSETT, VIRGINIA |
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24055 |
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(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code 276/629-6000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 8.01 |
Other Events |
On July 17, 2014 Bassett Furniture Industries issued a news release relating to the declaration of an increased regular quarterly dividend of $.08 per share of outstanding common stock payable on August 29, 2014 to shareholders of record at the close of business August 15, 2014. A copy of the news release is attached to the report as Exhibit 99.
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Item 9.01. |
Financial Statements and Exhibits |
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Exhibit 99 |
News release issued by Bassett Furniture Industries, Inc. on July 17, 2014. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BASSETT FURNITURE INDUSTRIES, INCORPORATED | |
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Date: July 17, 2014 |
By: /s/ J. Michael Daniel |
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J. Michael Daniel |
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Title: Senior Vice President – Chief Financial Officer |
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EXHIBIT INDEX
Description
Exhibit No. 99 News release issued by Bassett Furniture Industries on July 17, 2014.
Exhibit 99
Bassett Furniture Industries, Inc. J. Michael Daniel, Senior Vice P.O. Box 626 President and Chief Financial Bassett, VA 24055 Officer Jay S. Moore, Director of Communications For Immediate Release (276) 629-6450 – Media
(276) 629-6614 - Investors
Bassett Furniture News Release
Bassett Increases Quarterly Dividend
(Bassett, Va.) – July 17, 2014– Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has declared a dividend of $.08 per share of outstanding common stock payable on August 29, 2014 to shareholders of record at the close of business August 15, 2014.
“We are pleased to announce a 33% increase in our regular quarterly dividend”, said Robert H. Spilman, Jr. President and Chief Executive Officer. “As our balance sheet remains solid and cash flows have become more predictable, we believe such an increase is appropriate. We will continue to evaluate the Company’s allocation of capital for growth, dividends and repurchase of stock to further enhance shareholder value.”
Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With 95 company- and licensee-owned stores, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. The most significant growth opportunity for Bassett continues to be the Company’s dedicated retail store program. Bassett’s retail strategy includes affordable custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, more than 1,000 upholstery fabrics, free in-home design visits, and coordinated decorating accessories. Bassett is also growing its traditional wholesale business with more than 500 accounts on the open market, across the United States and internationally. For more information, visit the Company’s website at bassettfurniture.com. (BSET-E)
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