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HAVERTY FURNITURE COMPANIES, INC. ANNOUNCES THREE-FOR-TWO STOCK SPLIT

 ATLANTA, June 1 /PRNewswire/ -- Haverty Furniture Companies, Inc. (NASDAQ-NMS: HAVT HAVTA) today announced that its board of directors has approved a 3-for-2 stock split, to be effected in the form of a 50 percent stock dividend, payable June 30, on the outstanding shares (including Treasury shares) of the $1 par value Common Stock and Class A Common Stock of the company held by stockholders of record at the close of business on June 15, to be paid in shares of Common Stock to the holders of Common Stock and in shares of Class A Common Stock to the holders of Class A Common Stock.
 In the distribution of the 50 percent stock dividend, no fractional shares shall be issued, but each holder who would otherwise be entitled to a fractional share shall be paid the cash equivalent for the respective fractional share to which he would otherwise be entitled based upon the mean of the closing bid and asked prices of the respective classes of common stock of the company, as appropriate, quoted on the NASDAQ National Market System for the record date of June 15 (adjusted for the split).
 Haverty's currently has 7.4 million shares of common stock outstanding. Frank S. McGaughey, Jr., president and chief executive officer, said: "It is gratifying that Haverty's continued growth has enabled the board to declare this split. We are confident that the additional outstanding shares will benefit stockholders by increasing the trading activity and liquidity of the company's common stock."
 Haverty's currently operates 87 retail furniture showrooms in 11 states throughout the Southeast and Southwest. The company's two classes of common stock are traded on the NASDAQ National Market System under the symbols HAVT and HAVTA.
 -0- 6/1/93
 /CONTACT: Christine M. Jones, vice president and secretary of Haverty Furniture Companies, 404-881-1911/
 (HAVT)


CO: Haverty Furniture Companies, Inc. ST: Georgia IN: REA SU:

RA-BR -- AT006 -- 3849 06/01/93 10:13 EDT
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Publication:PR Newswire
Date:Jun 1, 1993
Words:322
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