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bset20160310b_8k.htm

 

 

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) March 10, 2016

 

 

BASSETT FURNITURE INDUSTRIES, INCORPORATED

(Exact name of registrant as specified in its charter)

 

 

 

VIRGINIA

 

0-209

 

54-0135270

(State or other jurisdiction of

incorporation or organization)

 

(Commission File No.)

 

(I.R.S. Employer

Identification No.)

 

 

 

3525 FAIRYSTONE PARK HIGHWAY

BASSETT, VIRGINIA

 

24055

(Address of principal executive offices)

 

(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):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 
 
 

 

Item 8.01    Other Events

On March 10, 2016 Bassett Furniture Industries issued a news release relating to the declaration of a regular quarterly dividend of $0.09 per share of outstanding common stock payable on May 27, 2016 to shareholders of record at the close of business on May 13, 2016, and relating to the following appointments by the Board of Directors: Robert H. Spilman, Jr. as Chairman, Paul Fulton as Chairman Emeritus, Kristina Cashman as Audit Committee Chair and William C. Warden, Jr. as Lead Independent Director. A copy of the news release is attached to the report as Exhibit 99.

  

Item 9.01.    Financial Statements and Exhibits

 

Exhibit 99     News release issued by Bassett Furniture Industries, Inc. on March 10, 2016

 

 
 
 

 

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.

 

  BASSETT FURNITURE INDUSTRIES, INCORPORATED
March 10, 2016 By: /s/ J. Michael Daniel
  J. Michael Daniel
 

Title:

Senior Vice President – Chief Financial Officer

 

 
 
 

 

EXHIBIT INDEX

 

Description

 

Exhibit No. 99     News release issued by Bassett Furniture Industries on March 10, 2016.

 

ex99.htm

Exhibit 99

 

 

 

Bassett Furniture Industries, Inc.

J. Michael Daniel, Senior Vice

P.O. Box 626           President and Chief Financial
Bassett, VA 24055           Officer
  (276) 629-6614 - Investors
   
  Jay S. Moore, Director of
  Communications
For Immediate Release  (276) 629-6450 – Media

 

 

 

Bassett Furniture News Release

Bassett Declares Quarterly Dividend & Announces Board Appointments

 

(Bassett, Va.) – March 10, 2016– Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has declared a dividend of $0.09 per share of outstanding common stock payable on May 27, 2016 to shareholders of record at the close of business on May 13, 2016. Also, the Company announced that its Board of Directors made the following appointments: Robert H. Spilman, Jr. was named Chairman, Paul Fulton was named Chairman Emeritus, Kristina Cashman was named Audit Committee Chair and William C. Warden, Jr. was named Lead Independent Director. Mr. Spilman has been the Company’s Chief Executive Officer since 2000, and Mr. Fulton, served as Chairman from 1997 to 2016 and was the Company’s Chief Executive Officer from 1997 to 2000. Ms. Cashman has been a Director and has served on the Audit Committee since 2007, and Mr. Warden, the immediate past Audit Committee Chair, has been a Director since 2004.

 

 

Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With 91 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 600 accounts in 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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