HNI Corp (NYSE:HNI) declared a quarterly dividend on Wednesday, November 7th, NASDAQ reports. Shareholders of record on Monday, November 19th will be paid a dividend of 0.295 per share by the business services provider on Monday, December 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, November 16th.

HNI has increased its dividend payment by an average of 4.5% per year over the last three years and has increased its dividend every year for the last 6 years. HNI has a dividend payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HNI to earn $2.94 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 40.1%.

Shares of HNI opened at $38.13 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.78 and a current ratio of 1.18. HNI has a twelve month low of $32.45 and a twelve month high of $45.40. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.36 and a beta of 1.44.

HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, October 22nd. The business services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.04. HNI had a net margin of 4.23% and a return on equity of 16.11%. The firm had revenue of $611.10 million for the quarter, compared to analyst estimates of $618.27 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Analysts anticipate that HNI will post 2.4 earnings per share for the current year.

In other news, Director Stanley A. Askren sold 15,000 shares of HNI stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $44.03, for a total value of $660,450.00. Following the sale, the director now directly owns 247,124 shares in the company, valued at $10,880,869.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley A. Askren sold 25,212 shares of HNI stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $42.70, for a total transaction of $1,076,552.40. Following the completion of the sale, the director now owns 257,336 shares in the company, valued at $10,988,247.20. The disclosure for this sale can be found here. Insiders sold 65,424 shares of company stock worth $2,810,025 over the last quarter. 5.16% of the stock is owned by corporate insiders.

HNI has been the topic of a number of research reports. Zacks Investment Research lowered shares of HNI from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. TheStreet upgraded shares of HNI from a “c+” rating to a “b-” rating in a report on Tuesday, July 24th. Finally, ValuEngine upgraded shares of HNI from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th.

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HNI Company Profile

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood 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, basyx by HON, Lamex, and HNI India brands.

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Dividend History for HNI (NYSE:HNI)

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