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Bassett Furniture Industries, Incorporated Message Board

  • geomontpar geomontpar Aug 23, 2001 9:34 AM Flag

    newheel

    You asked about the dividends. We have covered this subject several times, but to give you a brief recap- In every year that Rob has been in charge they have lost money and in every year that Rob has been in charge they have paid out a dividend. Why? Well speculation exists that it is either to satisfy those brokerage houses that have a substantial investment in BFI. Another possible answer is that the Bassett/Spilman family own a huge amount of stock. Historically Bassett has paid very low salaries, even to it's executives. The way they got around this was to pay out dividends to the executives, and since they were usually always family members they stood to make a substantial amount of money from the dividends. Also, speculation leads to the fact that many family members not employed by Bassett reap a huge benifit from this set up. So, you see, there is zero incentive for the leadership of Bassett to not give out dividends.
    I hope that answers your question, and while both arguments hold water I tend to think it is a combination of both.

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