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Bassett to pay dividend installment in August

By Associated Press
June 18, 2008 | Comments (0)

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Bassett Furniture Industries Inc. will pay the first installment of its special $1.25 dividend in August, the company said Wednesday.

Bassett plans to pay 75 cents on Aug. 1 to shareholders of record on July 16. It expects to pay the remaining 50 cents in October.

The company will finance the dividend with proceeds from the sale of holdings in its investment portfolio. Bassett first announced the special dividend, which will cost the company about $15 million in total, in April.

Bassett shares fell 2 cents to $11.88 in midday trading.

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