La-Z-Boy Incorporated (NYSE:LZB) Plans Quarterly Dividend of $0.24

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Tuesday, August 18th. Investors of record on Thursday, September 3rd will be given a dividend of 0.242 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 3rd.

La-Z-Boy has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 4 years. La-Z-Boy has a dividend payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect La-Z-Boy to earn $3.30 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 29.1%.

La-Z-Boy Price Performance

NYSE LZB opened at $40.98 on Wednesday. La-Z-Boy has a 12 month low of $29.03 and a 12 month high of $44.90. The company has a market capitalization of $1.64 billion, a P/E ratio of 16.59, a PEG ratio of 1.28 and a beta of 1.27. The company’s 50 day simple moving average is $40.00 and its 200 day simple moving average is $36.91.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 18th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The company had revenue of $475.69 million during the quarter, compared to the consensus estimate of $501.44 million. During the same period in the prior year, the company posted $0.47 EPS. La-Z-Boy’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts anticipate that La-Z-Boy will post 2.98 earnings per share for the current year.

La-Z-Boy Company Profile

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.