La-Z-Boy Incorporated (NYSE:LZB) Announces Quarterly Dividend of $0.24

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Tuesday, August 18th. Shareholders of record on Thursday, September 3rd will be paid a dividend of 0.242 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, September 3rd.

La-Z-Boy has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 4 years. La-Z-Boy has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Analysts expect La-Z-Boy to earn $3.30 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 29.1%.

La-Z-Boy Trading Down 1.3%

LZB stock opened at $40.98 on Wednesday. The firm has a 50 day simple moving average of $40.00 and a 200-day simple moving average of $36.91. The company has a market capitalization of $1.64 billion, a P/E ratio of 16.59, a PEG ratio of 1.28 and a beta of 1.27. La-Z-Boy has a twelve month low of $29.03 and a twelve month high of $44.90.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $475.69 million for the quarter, compared to the consensus estimate of $501.44 million. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. On average, research analysts predict that La-Z-Boy will post 2.98 EPS for the current year.

La-Z-Boy News Summary

Here are the key news stories impacting La-Z-Boy this week:

• Positive Sentiment: Retail momentum was encouraging: written sales increased 16%, written same-store sales rose 3%, and delivered retail sales grew 10%. Retail operating margins also improved year over year. The company added four company-owned stores and agreed to acquire two more independent stores. La-Z-Boy First-Quarter Results
• Positive Sentiment: La-Z-Boy returned approximately $35 million to shareholders through share repurchases and dividends, up 62% from the prior year. It also declared a quarterly dividend of $0.242 per share, payable September 15 to shareholders of record September 3, representing an annualized yield of about 2.4%.
• Positive Sentiment: The company ended the quarter with $267.3 million in cash and no external debt, providing financial flexibility while it consolidates manufacturing and expands its retail footprint.
• Neutral Sentiment: Management expects fiscal second-quarter revenue of $500 million to $520 million. Although this would represent sequential improvement, the range is below the approximately $536.9 million analyst consensus, keeping near-term demand concerns in focus. La-Z-Boy Fiscal First-Quarter Results and Outlook
• Negative Sentiment: Fiscal first-quarter adjusted EPS was $0.43, below the $0.48-$0.49 consensus and down from $0.47 a year earlier. Revenue fell 3.4% to $475.7 million, well below estimates near $501 million. On a GAAP basis, La-Z-Boy posted a $2.3 million net loss, or $0.06 per share, compared with a profit a year ago. La-Z-Boy Earnings Miss
• Negative Sentiment: Wholesale sales declined 9% to roughly $323 million, while the consolidated operating result swung to a loss from income in the prior-year quarter. The below-consensus second-quarter outlook suggests demand normalization may persist.
• Negative Sentiment: Reported insider-trading data showed several executives selling shares and no insider purchases over the past six months, a potentially cautious signal for investors.

La-Z-Boy Company Profile

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.