By Colin Kellaher

Hooker Furnishings is halving its dividend as the furniture maker grapples with a persistent industry downturn.

Hooker on Thursday said it will now pay a quarterly dividend of 11.5 cents, down from a prior payout of 23 cents.

The new dividend, equal to 46 cents a year, represents an annual yield of about 4.2%, based on Wednesday's closing price of $10.90, down from 8.8%.

The dividend cut comes as Hooker posted a 14% drop in quarterly sales and a loss of more than $21 million, driven in part by $16.7 million in non-cash impairment charges.

Hooker recently sold its Pulaski Furniture and Samuel Lawrence Furniture value-priced home furnishings brands, and the Martinsville, Va., company has reduced its overall cost structure by 25% over the past 18 months.

The residential-furniture sector has been hit by a slowdown in the housing market, high interest rates, inflation and tariffs.

Hooker said the reduced dividend is payable Dec. 31 to shareholders of record Dec. 15, adding that its board has approved the repurchase of up to $5 million in common stock as part of efforts to balance capital return and liquidity needs.

Hooker shares were recently down 6.8% at $10.16 in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 11, 2025 07:18 ET (12:18 GMT)

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