|Q.||Where is the company headquartered?|
|A.||Haverty's corporate offices are located at:|
780 Johnson Ferry Road
Atlanta, Georgia 30342
|Q.||When was the Company founded ?|
|A.||Havertys was founded in 1885 by Mr. J.J. Haverty. The first Havertys store was located in Atlanta, Georgia. The Company grew to 21 stores by 1929 and to finance continued growth the Company accessed the booming public market in stocks with its initial public offering on October 1, 1929. The Company is one of only a few of the current publicly traded companies that pre-date Black Thursday. The Company had a secondary offering in 1993 at which time it had 89 stores and sales of $322.9 million. On August 28, 1998, the Companys two classes of stock began trading on the New York Stock Exchange. Prior to trading on the NYSE, the Companys shares were listed on NASDAQ.|
|Q.||What are the differences between the two classes of stock ?|
|A.||Common Stock has a preferential dividend rate of at least 105% of the dividend paid on Class A Common Stock. Class A Common Stock has greater voting rights which include: voting as a separate class for the election of 75% of the total number of directors of the Company and on all other matters subject to shareholder vote, each share of Class A Common Stock has ten votes and votes with the Common Stock as a single class. Class A Common Stock is convertible at the holders option at any time into Common Stock on a 1-for-1 basis; Common Stock is not convertible into Class A Common Stock.
|Q.||Does the Company pay a dividend ?|
|A.||Havertys has a long tradition of returning a portion of its profits to its shareholders in the form of dividends. Havertys has paid a dividend since 1935. You can refer to the market and dividend prices chart for historical information for the past five years.|
|Q.||Does the Company have a Dividend Reinvestment Program or DRIP ?|
|A.||Havertys does not have a DRIP.|
|Q.||Is the Companys Board of Directors independent ?|
|A.||The Companys Board is comprised of eleven directors and in keeping with the listing requirements of the New YorkStock Exchange, a majority of the members are independent directors. You can read a brief bio on each of the Companys directors at the Corporate Governance portion of our website.
|Q.||What committees has the Companys Board of Directors established ?|
|A.||The Companys Board of Directors has the following committees:
A description of each committee's duties and responsibilities, their respective members and charters is located at the Corporate Governance portion of our website.
- Executive Committee
- Nominating and Corporate Governance Committee
- Executive Compensation and Employee Benefits Committee
- Audit Committee