Office furniture maker HNI Corp. of Muscatine has authorized another $200 million buyback of company stock, which has dropped in value from nearly $60 a share last spring to the low $40s.


HNI has spent all but $3.5 million of $200 million authorized for stock repurchases last November. The company also declared its 206th consecutive quarterly dividend.

The dividend of 18 cents per share is payable Sept. 1 to shareholders of record on Aug. 18.