La-Z-Boy Incorporated (NYSE:LZB) Declares $0.22 Quarterly Dividend

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders of record on Tuesday, March 4th will be given a dividend of 0.22 per share on Friday, March 14th. This represents a $0.88 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, March 4th.

La-Z-Boy has increased its dividend payment by an average of 10.1% per year over the last three years. La-Z-Boy has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NYSE:LZB opened at $47.08 on Thursday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 16.18 and a beta of 1.35. La-Z-Boy has a 52 week low of $32.00 and a 52 week high of $48.31. The firm has a 50-day moving average price of $44.72 and a two-hundred day moving average price of $42.76.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $521.78 million during the quarter, compared to analyst estimates of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.43%. As a group, sell-side analysts forecast that La-Z-Boy will post 2.99 earnings per share for the current year.

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.