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

La-Z-Boy Incorporated (NYSE:LZB) declared a quarterly dividend on Wednesday, February 19th,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 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 by an average of 10.1% per year over the last three years. La-Z-Boy has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. 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 Up 4.0 %

Shares of NYSE:LZB traded up $1.80 during trading on Wednesday, reaching $47.08. The stock had a trading volume of 1,022,287 shares, compared to its average volume of 439,965. La-Z-Boy has a 52 week low of $32.00 and a 52 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 stock has a fifty day simple moving average of $44.67 and a two-hundred day simple moving average of $42.71.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. La-Z-Boy had a net margin of 6.00% and a return on equity of 12.55%. The company had revenue of $521.78 million for the quarter, compared to analyst estimates of $516.47 million. On average, analysts forecast 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.