8-K
Bassett Furniture Industries Inc (BSET)
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 14, 2022
BASSETT FURNITURE INDUSTRIES, INCORPORATED
(Exact name of registrant as specified in its charter)
| Virginia | 000-00209 | 54-0135270 |
|---|---|---|
| (State or other jurisdiction of<br><br> <br>incorporation or organization) | (Commission File No.) | (I.R.S. Employer<br><br> <br>Identification No.) |
| 3525 Fairystone Park Highway<br><br> <br>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)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of exchange on which registered |
|---|---|---|
| Common Stock ($5.00 par value) | BSET | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01 | Other Events |
|---|
On July 14, 2022, Bassett Furniture Industries issued a news release relating to the declaration of a quarterly dividend of $0.16 per share of common stock payable on August 26, 2022, to shareholders of record at the close of business on August 12, 2022. A copy of the news release is attached to the report as Exhibit 99.
| Item 9.01. | Financial Statements and Exhibits. |
|---|
(d) Exhibits
| 99 | News release issued by Bassett Furniture Industries, Inc. on July 14, 2022 |
|---|---|
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document) |
| --- | --- |
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.
| July 14, 2022 | By: /s/ J. Michael Daniel |
|---|---|
| J. Michael Daniel | |
| Title: Senior Vice President – Chief Financial & Administrative Officer |
ex_395227.htm
Exhibit 99
| Bassett Furniture Industries, Inc.<br><br> <br>P.O. Box 626<br><br> <br>Bassett, VA 24055 | J. Michael Daniel, Senior Vice<br><br> <br>President and Chief Financial<br><br> <br>Officer<br><br> <br>(276) 629-6614 - Investors |
|---|---|
| For Immediate Release | Peter D. Morrison, Vice President of<br><br> <br>Communications<br><br> <br>(276) 629-6387 – Media |
Bassett Furniture News Release
Bassett Increases Regular Quarterly Dividend by 14%
(Bassett, Va.) – July 14, 2022– Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has increased the quarterly dividend by 14%, declaring a regular quarterly dividend of $0.16 per share of common stock, payable on August 26, 2022, to shareholders of record at the close of business on August 12, 2022.
About Bassett Furniture Industries, Inc.
Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 95 company- and licensee-owned stores at the time of this release, 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. Bassett’s retail strategy includes stylish, custom-built furniture that features the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. Bassett also has a traditional wholesale business with more than 700 accounts on the open market, across the United States. For more information, visit the Company’s website at bassettfurniture.com. (BSET-E)