Following the posting of strong financial results, Ethan Allen Interiors Inc. said it will be changing its ticker symbol from “ETH” to “ETD” on the New York Stock Exchange, effective Aug. 16.
According to Ethan Allen Chairman, President and CEO Farooq Kathwari, “The company is changing its ticker symbol to ETD, using the ”˜D”™ for Design, to reflect our focus on interior design and the personal services of our design professionals throughout our global retail network of over 300 design centers. We also believe this change will better differentiate Ethan Allen news from Ethereum (cryptocurrency) news in search results, as Ethereum is often abbreviated as ETH.”
No action is required by existing Ethan Allen shareholders with respect to the ticker symbol change. The company”™s common stock will continue to be listed on the NYSE and its CUSIP will remain unchanged.
The announcement comes one day after the Danbury company’s board of directors declared a $.75 per share special cash dividend to shareholders of record on Aug. 17, payable on Aug. 31. The board also declared a regular quarterly cash dividend of $.25 per share, payable on Aug. 31 to shareholders of record at the close of business on Aug. 17.
The company”™s fiscal 2021 fourth-quarter retail segment written orders increased 105% over the prior year and consolidated net sales grew 94.7%.
“Our business performed well in fiscal 2021,” Kathwari said. “As we head into the fiscal 2022 year, we believe we have a great opportunity to continue our growth in sales and profitability due to our talented team, strong retail network, the personal service of our interior design professionals increasingly combined with technology, our unique vertical integration whereby 75% of products are made in our North American manufacturing workshops, and our strong logistics network of national distribution centers and retail home delivery centers delivering product with white-glove service to our clients”™ homes.”
Ethan Allen will release its fiscal 2021 fourth quarter and full-year financial results on Aug. 9.
