La-Z-Boy Incorporated (NYSE:LZB) Plans Dividend Increase – $0.24 Per Share

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Tuesday, November 18th. Shareholders of record on Thursday, December 4th will be given a dividend of 0.242 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 2.8%. 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.

La-Z-Boy has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive 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 Trading Up 18.5%

Shares of NYSE LZB opened at $35.08 on Wednesday. La-Z-Boy has a 12-month low of $29.03 and a 12-month high of $48.31. The stock’s fifty day simple moving average is $32.73 and its two-hundred day simple moving average is $36.75. The stock has a market capitalization of $1.45 billion, a PE ratio of 15.77 and a beta of 1.26.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, November 18th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The company had revenue of $522.48 million for the quarter, compared to the consensus estimate of $517.63 million. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. La-Z-Boy has set its Q3 2026 guidance at EPS. On average, equities analysts predict that La-Z-Boy will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LZB shares. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a report on Wednesday, October 8th. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $39.00 in a research report on Wednesday. Finally, Zacks Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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.