Ethan Allen Interiors Inc. Increases Regular Quarterly Dividend by 10% and Increases Share Repurchase Authorization to 2.5 Milli
July 24 2007 - 4:48PM
Business Wire
Ethan Allen Interiors Inc. (NYSE: ETH) (the�Company�) announced
today 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 today's 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 at
http://www.ethanallen.com/investors. Ethan Allen Interiors Inc. is
a leading manufacturer and retailer of quality home furnishings.
The Company sells a full range of furniture products and decorative
accessories through an exclusive network of 313 design centers
located in the United States and abroad, of which 158 are
Company-owned. Ethan Allen has 9 manufacturing facilities in the
United States.
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