UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) March 31, 2020
BASSETT FURNITURE INDUSTRIES, INCORPORATED
(Exact name of registrant as specified in its charter)
Virginia |
| 000-00209 |
| 54-0135270 |
(State or other jurisdiction of incorporation or organization) |
| (Commission File No.) |
| (I.R.S. Employer Identification No.) |
3525 FAIRYSTONE PARK HIGHWAY Bassett, Virginia |
| 24055 |
(Address of principal executive offices) |
| (Zip Code) |
Registrant’s telephone number, including area code (276) 629-6000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of exchange on which registered | ||
Common Stock ($5.00 par value) | BSET | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 | Other Events |
On March 12, 2020, the Company announced that the Board had declared a dividend in the amount of $0.125 per share of common stock payable on May 29, 2020 to holders of record on May 15, 2020. Given the recent economic and financial disruptions caused by the COVID-19 pandemic, on March 31, 2020, the Board of Directors decided to defer the record date and payment of that dividend until such later time as the Board of Directors determines is prudent in light of the Company’s capital needs and in the best interests of the Company and its stakeholders.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| April 2, 2020 | By: /s/ J. Michael Daniel |
| J. Michael Daniel | |
| Title: Senior Vice President – Chief Financial & Administrative Officer |
