La-Z-Boy Incorporated (NYSE:LZB) to Issue Dividend Increase - $0.24 Per Share
La-Z-Boy Incorporated (NYSE:LZB) announced a 10% increase in its quarterly dividend to $0.24 per share, payable on December 15th to shareholders of record on December 4th. The company has consistently raised its dividend over the past four years and maintains a payout ratio of 24.5%. Analysts expect La-Z-Boy to continue covering its dividends with projected earnings of $3.35 per share next year. The company's stock opened at $29.62, with a market cap of $1.22 billion.
La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) declared a quarterly dividend on Tuesday, November 18th. Investors of record on Thursday, December 4th will be given a dividend of 0.242 per share on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, December 4th. This is a 10.0% increase from La-Z-Boy's previous quarterly dividend of $0.22.
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La-Z-Boy has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. La-Z-Boy has a payout ratio of 24.5% 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 Price Performance
LZB stock opened at $29.62 on Wednesday. The firm's fifty day simple moving average is $32.73 and its 200-day simple moving average is $36.75. The company has a market capitalization of $1.22 billion, a P/E ratio of 13.52 and a beta of 1.26. La-Z-Boy has a 12 month low of $29.03 and a 12 month high of $48.31.
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La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, November 18th. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.17. La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The business had revenue of $522.48 million for the quarter, compared to analysts' expectations of $517.63 million. During the same quarter last year, the company earned $0.71 EPS. The business's revenue was up .3% on a year-over-year basis. La-Z-Boy has set its Q3 2026 guidance at EPS. As a group, sell-side analysts forecast that La-Z-Boy will post 2.99 earnings per share for the current year.
La-Z-Boy Company Profile
(Get Free Report)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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