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

La-Z-Boy Incorporated (NYSE:LZB) declared a quarterly dividend on Tuesday, November 18th. Investors of record on Thursday, December 4th will be paid a dividend of 0.242 per share on Monday, December 15th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend 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%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. La-Z-Boy has a dividend 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 Stock Performance

Shares of LZB stock opened at $29.62 on Wednesday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 13.52 and a beta of 1.26. La-Z-Boy has a 52-week low of $29.03 and a 52-week high of $48.31. The firm has a fifty day moving average of $32.73 and a 200-day moving average of $36.75.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, November 18th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $517.63 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. La-Z-Boy has set its Q3 2026 guidance at EPS. On average, sell-side analysts predict that La-Z-Boy will post 2.99 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Janet Kerr sold 3,372 shares of La-Z-Boy stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $35.70, for a total value of $120,380.40. Following the completion of the sale, the director directly owned 3,653 shares in the company, valued at approximately $130,412.10. The trade was a 48.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On La-Z-Boy

Institutional investors have recently modified their holdings of the business. LSV Asset Management boosted its stake in shares of La-Z-Boy by 5.0% in the 1st quarter. LSV Asset Management now owns 1,604,462 shares of the company’s stock valued at $62,718,000 after purchasing an additional 76,925 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of La-Z-Boy by 208.8% in the third quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock worth $51,237,000 after purchasing an additional 1,009,428 shares during the last quarter. American Century Companies Inc. increased its stake in shares of La-Z-Boy by 7.2% in the third quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock valued at $49,237,000 after buying an additional 95,737 shares during the period. Thrivent Financial for Lutherans increased its position in La-Z-Boy by 7.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,391,236 shares of the company’s stock valued at $47,747,000 after purchasing an additional 100,416 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of La-Z-Boy by 0.9% during the second quarter. Geode Capital Management LLC now owns 1,016,917 shares of the company’s stock worth $37,804,000 after buying an additional 9,224 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

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.