NEW YORK (AFX) - Furnishings manufacturer and retailer Ethan Allen Interiors Inc. raised its regular quarterly dividend Tuesday by 11 percent and upped its stock buyback program to 2.5 million shares.
The company said it will pay the 20-cent dividend on Oct. 25 to shareholders of record Oct. 10.
Ethan Allen also increased its share repurchase program by 1.4 million shares to 2.5 million. In the fiscal year ended June 30, the company bought back 2.5 million shares for $85.1 million. Ethan Allen currently has 33 million shares outstanding.
The retailer is scheduled to report fiscal fourth-quarter results on Thursday, July 27. Shares of Ethan Allen rose 65 cents to close at $36.80 on the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.