La-Z-Boy Incorporated (NYSE:LZB) Declares Quarterly Dividend of $0.20

La-Z-Boy Incorporated (NYSE:LZB) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Tuesday, June 4th will be paid a dividend of 0.20 per share on Friday, June 14th. This represents a $0.80 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, June 4th.

La-Z-Boy has increased its dividend by an average of 28.6% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. La-Z-Boy has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect La-Z-Boy to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 28.6%.

La-Z-Boy Stock Up 0.8 %

Shares of NYSE:LZB traded up $0.27 on Thursday, reaching $32.98. 467,690 shares of the company’s stock were exchanged, compared to its average volume of 383,453. The business’s 50-day moving average is $35.66 and its two-hundred day moving average is $34.71. La-Z-Boy has a fifty-two week low of $25.12 and a fifty-two week high of $39.87. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.07 and a beta of 1.19.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The business had revenue of $500.40 million for the quarter, compared to the consensus estimate of $523.09 million. During the same period in the prior year, the company earned $0.91 EPS. La-Z-Boy’s quarterly revenue was down 12.6% on a year-over-year basis. Analysts predict that La-Z-Boy will post 2.72 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Michael Adam Leggett sold 3,077 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.08, for a total value of $114,095.16. Following the sale, the senior vice president now owns 21,519 shares of the company’s stock, valued at approximately $797,924.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th.

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.