La-Z-Boy Incorporated (LZB) to Issue Quarterly Dividend of $0.24 on December 15th

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Tuesday, November 18th. Shareholders of record on Thursday, December 4th will be given a dividend of 0.242 per share on Monday, December 15th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, December 4th. This is a 10.0% increase from La-Z-Boy’s previous quarterly dividend of $0.22.

La-Z-Boy has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. La-Z-Boy has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect La-Z-Boy to earn $3.35 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 26.3%.

La-Z-Boy Price Performance

NYSE:LZB opened at $35.62 on Thursday. La-Z-Boy has a 12-month low of $29.03 and a 12-month high of $48.31. The firm has a market capitalization of $1.47 billion, a P/E ratio of 16.26 and a beta of 1.26. The business has a 50 day simple moving average of $32.75 and a 200 day simple moving average of $36.74.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The company had revenue of $522.48 million for the quarter, compared to analyst estimates of $517.63 million. During the same period in the previous year, the firm earned $0.71 earnings per share. La-Z-Boy’s revenue for the quarter was up .3% compared to the same quarter last year. La-Z-Boy has set its Q3 2026 guidance at EPS. Research analysts anticipate that La-Z-Boy will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LZB has been the subject of a number of recent research reports. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $39.00 in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, La-Z-Boy presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

About La-Z-Boy

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.