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

La-Z-Boy Incorporated (NYSE:LZB) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders 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 yield of 1.94%. The ex-dividend date 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 payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of LZB stock opened at $45.30 on Friday. The company’s fifty day simple moving average is $44.91 and its two-hundred day simple moving average is $42.93. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 15.57 and a beta of 1.35. La-Z-Boy has a 1 year low of $32.00 and a 1 year high of $48.31.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $521.78 million during the quarter, compared to the consensus estimate of $516.47 million. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. Equities research analysts anticipate that La-Z-Boy will post 2.99 EPS for the current year.

La-Z-Boy Company Profile

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.