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

La-Z-Boy Incorporated (NYSE:LZB) declared a quarterly dividend on Tuesday, April 28th. Shareholders of record on Tuesday, June 2nd will be paid a dividend of 0.242 per share on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, June 2nd.

La-Z-Boy has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. La-Z-Boy has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect La-Z-Boy to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 32.1%.

La-Z-Boy Stock Performance

Shares of NYSE:LZB opened at $35.25 on Thursday. La-Z-Boy has a fifty-two week low of $29.03 and a fifty-two week high of $44.49. The business has a 50-day simple moving average of $34.07 and a two-hundred day simple moving average of $35.59. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 17.45 and a beta of 1.28.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The business had revenue of $541.59 million during the quarter, compared to analyst estimates of $535.47 million. During the same quarter in the previous year, the firm earned $0.68 EPS. La-Z-Boy’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts predict that La-Z-Boy will post 2.61 earnings per share for the current year.

About La-Z-Boy

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.