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Ethan Allen declares regular quarterly dividend

14 Nov '07

1 min read

Ethan Allen Interiors Inc announced that its Board of Directors has declared a regular quarterly cash dividend of $0.22 per share. In addition, the Board of Directors increased the authorization to permit the Company to repurchase up to 2,000,000 shares of its common stock.

The regular quarterly dividend of $0.22 per share will be payable to shareholders of record as January 10, 2008 and will be paid on January 25, 2008.

Prior to today's Board action, the Company had a remaining authorization to repurchase 1,368,000 shares of its common stock. The authorization to repurchase common stock was increased by 632,000 shares to a current authorization level of 2,000,000 shares.

During the first fiscal quarter ended September 30, 2007 the company invested $38.3 million to repurchase 1,144,000 shares. During the second quarter through November 12, 2007 the company invested $20.4 million to repurchase 683,300 bringing the total buybacks for the current fiscal year to 1,827,300 shares.

Chairman and CEO Farooq Kathwari said, "We are pleased with our progress in positioning our business to grow, and we are gratified to have the financial strength and confidence to pay quarterly dividend and to repurchase shares when it makes good business and financial sense."

Ethan Allen Interiors Inc

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