La-Z-Boy Incorporated (LZB) to Issue Quarterly Dividend of $0.13 on December 20th

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Wednesday, November 28th, RTT News reports. Shareholders of record on Monday, December 10th will be paid a dividend of 0.13 per share on Thursday, December 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, December 7th. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.12.

La-Z-Boy has raised its dividend payment by an average of 20.1% annually over the last three years. La-Z-Boy has a payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect La-Z-Boy to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 22.6%.

Shares of NYSE:LZB opened at $27.68 on Thursday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 15.29 and a beta of 1.01. La-Z-Boy has a 1-year low of $27.33 and a 1-year high of $39.15.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 28th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.05. The company had revenue of $439.30 million for the quarter, compared to analysts’ expectations of $434.04 million. La-Z-Boy had a net margin of 5.11% and a return on equity of 15.07%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. Sell-side analysts anticipate that La-Z-Boy will post 2.11 EPS for the current fiscal year.

In other news, insider John Douglas Collier sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $31.66, for a total transaction of $158,300.00. Following the completion of the transaction, the insider now owns 75,070 shares in the company, valued at $2,376,716.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.55% of the stock is currently owned by corporate insiders.

LZB has been the topic of a number of research reports. Zacks Investment Research cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. ValuEngine cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Stifel Nicolaus increased their target price on shares of La-Z-Boy from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, August 23rd.

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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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

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Dividend History for La-Z-Boy (NYSE:LZB)

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