HNI Corp hikes dividend by 1.6%

HNI Corporation (HNI) will raise its quarterly dividend by 1.6 percent to 31 cents per share in 2021. This is the first increase since 2019 when the dividend was hiked by 3.4 percent to $0.305 per share. This marks the 11th consecutive year of dividend increases by HNI. The new dividend yields 2.8% based on the annual amount of $1.24 per share and a stock price of $43 for HNI.

HNI Corporation is a provider and designer of office furniture and a manufacturer and marketer of hearth products. The company's hearth products include gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories.