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Actionable news in BSET: Bassett Furniture Industries, Incorporated,

Bassett Furniture Industries, Inc J. Michael Daniel, Senior Vice

The following excerpt is from the company's SEC filing.

P.O. Box 626

President and Chief Financial

Officer

Bassett, VA 24055

(276) 629-6614 - Investors

Jay S. Moore, Director of Communications

For Immediate Release

(276) 629-6450 – Media

Bassett Furniture News Release

Bassett Announces Special Dividend

(Bassett, Va.) – November 10, 2015– Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors declared a $0.20 per share special dividend payable on December 18, 2015 to shareholders of record on December 4, 2015.

“We are pleased to announce this special div idend”, said Robert H. Spilman, Jr., President and Chief Executive Officer. “Including this year’s acquisition of Zenith Freight Lines, LLC, we have grown consolidated sales by 28% through the first three quarters of 2015. Additionally, we have doubled our operating profit thanks in large part to bringing our corporate retail division to profitability, fueled by a 16% year-to-date comparable store sales increase.”

“While we celebrate these accomplishments, we will continue to closely monitor the pace of our business so that we can continue our trend of improved operating results”, continued Spilman. “In addition, a strong balance sheet is fundamental to our strategy and we will use it to fund profitable growth. We believe improving operating results while maintaining a sound balance sheet is the best way to increase shareholder value. Management and our Board of Directors continually review the Company’s capital allocation strategy and, when deemed...


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