La-Z-Boy Incorporated (LZB) to Issue Quarterly Dividend of $0.22 on March 14th

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Stockholders of record on Tuesday, March 4th will be given a dividend of 0.22 per share on Friday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, March 4th.

La-Z-Boy has raised its dividend by an average of 10.1% annually over the last three years. La-Z-Boy has a payout ratio of 24.5% 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 Trading Up 1.5 %

Shares of LZB opened at $45.30 on Friday. The firm’s fifty day simple moving average is $44.91 and its two-hundred day simple moving average is $42.93. La-Z-Boy has a 12 month low of $32.00 and a 12 month high of $48.31. The stock has a market capitalization of $1.87 billion, a P/E ratio of 15.57 and a beta of 1.35.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The business had revenue of $521.78 million during the quarter, compared to analysts’ expectations of $516.47 million. As a group, research analysts predict that La-Z-Boy will post 2.99 EPS for the current fiscal 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.