Ethan Allen Interiors Inc announced that its Board of Directors has declared a regular quarterly cash dividend of $0.22 per share representing an increase of 10%.
In addition, the Board of Directors increased the authorization to permit the Company to repurchase up to 2,500,000 shares of its common stock.
The regular quarterly dividend of $0.22 per share will be payable to shareholders of record as October 10, 2007 and will be paid on October 25, 2007.
Prior to Board action, the Company had a remaining authorization to repurchase 707,300 shares of its common stock. The authorization to repurchase common stock was increased by 1,792,700 shares to a current authorization level of 2,500,000 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 increase our quarterly dividend and to repurchase shares when it makes good business and financial sense."
The Company will release earnings for the fourth quarter and fiscal year ended June 30, 2007 before the market opens on July 25, 2007, and will host a conference call at 11:00 a.m. Eastern time with the live webcast and replay available on the Company's website.
Ethan Allen Interiors Inc is a leading manufacturer and retailer of quality home furnishings.
Ethan Allen Interiors Inc
marketing@alchempro.com
