La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) declared a quarterly dividend on Tuesday, February 18th,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 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, March 4th.
La-Z-Boy has raised its dividend payment by an average of 10.1% per year over the last three years. La-Z-Boy has a 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 during midday trading on Wednesday, reaching $47.08. The company’s stock had a trading volume of 1,023,973 shares, compared to its average volume of 439,967. La-Z-Boy has a fifty-two week low of $32.00 and a fifty-two week high of $48.31. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 16.29 and a beta of 1.35. The firm has a 50 day moving average price of $44.67 and a two-hundred day moving average price of $42.71.
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.
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