La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Stockholders of record on Tuesday, June 2nd will be given a dividend of 0.242 per share on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, June 2nd.
La-Z-Boy has raised 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 dividend 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 Trading Down 1.4%
La-Z-Boy stock opened at $37.63 on Friday. The company has a market capitalization of $1.54 billion, a P/E ratio of 18.63 and a beta of 1.25. The firm’s fifty day simple moving average is $34.48 and its 200-day simple moving average is $36.09. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $42.44.
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.
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