La-Z-Boy Incorporated (NYSE:LZB) declared a quarterly dividend on Tuesday, May 9th, RTT News reports. Investors of record on Thursday, June 1st will be paid a dividend of 0.11 per share on Thursday, June 15th. This represents a $0.44 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, May 30th.

La-Z-Boy has raised its dividend by an average of 19.9% per year over the last three years. La-Z-Boy has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Analysts expect La-Z-Boy to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 24.2%.

Shares of La-Z-Boy (NYSE LZB) traded down 2.17% on Friday, reaching $27.05. The company had a trading volume of 717,864 shares. La-Z-Boy has a 12 month low of $22.09 and a 12 month high of $32.90. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.90 and a beta of 0.77. The stock has a 50 day moving average price of $27.59 and a 200-day moving average price of $28.50.

Dividend History for La-Z-Boy (NYSE:LZB)

A number of brokerages recently issued reports on LZB. Stifel Nicolaus cut La-Z-Boy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $33.00 to $30.00 in a report on Wednesday, February 22nd. Zacks Investment Research cut La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, February 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $29.67.

COPYRIGHT VIOLATION WARNING: “La-Z-Boy Incorporated (LZB) Announces Quarterly Dividend of $0.11” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/06/16/la-z-boy-incorporated-lzb-to-go-ex-dividend-on-may-30th-updated-updated.html.

About La-Z-Boy

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.

Receive News & Stock Ratings for La-Z-Boy Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy Incorporated and related stocks with our FREE daily email newsletter.