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): April 24, 2018
ETHAN ALLEN INTERIORS INC.
(Exact name of registrant as specified in its charter)
Delaware |
1-11692 |
06-1275288 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
25 Lake Avenue Extension Danbury, CT |
|
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code: (203) 743-8000
Not Applicable |
(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))
Indicate by check mark whether the registrant is an emerging growth company as defined in rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 standrds provided pursuat to Section 13(a) of the Exchange Act. [ ]
INFORMATION TO BE INCLUDED IN Report
Item 7.01 Regulation FD Disclosure
On April 24, 2018, Ethan Allen Interiors, Inc. (“Ethan Allen” or the “Company”) announced that its Board of Directors declared a regular quarterly cash dividend of $0.19 per share of common stock and increased the current share repurchase authorization. A copy of the communication is being furnished as Exhibit 99.1 hereto and hereby incorporated by reference.
On April 24, 2018, the Company’s Board of Directors authorized an increase in the amount available for share repurchases under the Company’s existing share repurchase program (the “Share Repurchase Program”) by approximately 2,000,000 shares. After giving effect to the increase in the authorized repurchase amount, as of April 24, 2018, approximately 3,000,000 shares may yet be purchased by the Company under the Share Repurchase Program. The timing, number and amount of any shares repurchased will be determined by the Company’s officers at their discretion, and as permitted by securities laws, covenants under existing bank agreements and other legal requirements, and will be based on a number of factors, including an evaluation of general market and economic conditions and the trading price of the common stock. The Share Repurchase Program may be suspended or discontinued at any time without prior notice
The information in this form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “1934 Act”), nor shall it be deemed “incorporated by reference” into any filing under the Securities Act of 1933, as amended, or the 1934 Act, except as may be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit |
Description |
99.1 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ETHAN ALLEN INTERIORS INC. |
|||
Date: April 24, 2018 |
By: |
/s/ Corey Whitely |
|
Executive Vice President, Administration Chief Financial Officer and Treasurer |
1
Exhibit 99.1
Ethan Allen Declares Regular Quarterly Cash Dividend and Increases Share Repurchase Authorization
DANBURY, CT, April 24, 2018 -- Ethan Allen Interiors, Inc. ("Ethan Allen") (NYSE:ETH) announced today that its Board of Directors declared a $0.19 per share regular quarterly cash dividend and increased the current share repurchase program, increasing the remaining shares authorized for repurchase to three million shares. The $0.19 per share regular cash dividend will be payable to shareholders of record as of Tuesday, July 10, 2018, and will be paid on Wednesday, July 25, 2018.
Farooq Kathwari, Chairman and CEO commented, “We are pleased to continue our payment of this regular quarterly cash dividend." Mr. Kathwari continued, “We feel the timing is now right for us to increase our share repurchase authorization limit. So far, this this month we have repurchased approximately 2% of our outstanding shares.”
About Ethan Allen
Ethan Allen Interiors Inc. (NYSE: ETH) is a leading interior design company and manufacturer and retailer of quality home furnishings. The company offers complimentary interior design service to its clients and sells a full range of furniture products and decorative accessories through ethanallen.com and a network of approximately 300 Design Centers in the United States and abroad. Ethan Allen owns and operates nine manufacturing facilities, including six manufacturing plants and one sawmill in the United States plus one plant each in Mexico and Honduras. Approximately seventy five percent of its products are made in its North American plants. For more information on Ethan Allen's products and services, visit ethanallen.com.
Ethan Allen Interiors Inc. Investor Relations Contact:
Corey Whitely
Executive Vice President, Administration
Chief Financial Officer and Treasurer
IR@ethanallen.com