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.

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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.

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