MUSCATINE, Iowa – HNI Corp. announced its board of directors has declared a quarterly dividend of 32 cents per share on its common stock.
The workplace furnishings and residential building products manufacturer announced the dividend in a news release today, Aug. 15.
The dividend will be payable on Sept. 8 to shareholders of record at the close of business Aug. 25.
The announcement comes on the heels of HNI Corp.’s second quarterly earnings report released Tuesday, Aug. 8. In that release, HNI reported a net loss of $12.8 million and net sales of $563.5 million in its second quarter. Earnings on a per-share basis declined from 72 cents in the prior year to a loss of 30 cents in the second quarter, ended July 1.
HNI Corp. said the decline was primarily due to transaction expenses related to its acquisition of Kimball International. On June 1, HNI said it had completed its previously announced $485 million acquisition of Kimball International, an Indiana-based commercial furnishings company.
