HNI Corporation, headquartered in Muscatine, announced its Board of Directors approved a 4 percent increase in its quarterly dividend. Shareholders of record by close of business May 19 will receive the 28.5 cents per share on common stock June 1.

The dividend, up from 28 cents the previous quarter, represents an annual dividend of $1.14 and a yield of 2.49 percent. Over the last three years, HNI has increased its dividend payment by 4.3 percent on average.

The dividend increase shows the strength of the company and likelihood for long-term profitable growth according to Stan Askren, HNI Corporation chairman, president and chief executive officer.

HNI Corporation is a global provider and designer of office furniture and manufacturer of hearth products including fireplaces, inserts, stoves, facings and accessories. 

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