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

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Wednesday, February 19th,Wall Street Journal reports. Stockholders of record on Tuesday, March 4th will be paid a dividend of 0.22 per share on Friday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, March 4th.

La-Z-Boy has raised its dividend 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. Equities 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

Shares of NYSE:LZB traded up $1.80 on Wednesday, hitting $47.08. The stock had a trading volume of 1,022,287 shares, compared to its average volume of 439,965. La-Z-Boy has a twelve month low of $32.00 and a twelve month high of $48.31. The firm’s 50 day moving average price is $44.67 and its 200-day moving average price is $42.71. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 16.29 and a beta of 1.35.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $521.78 million during the quarter, compared to analysts’ expectations of $516.47 million. La-Z-Boy had a return on equity of 12.55% and a net margin of 6.00%. As a group, sell-side analysts predict that La-Z-Boy will post 2.99 EPS 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.