Investors can sit back and relax as uber-comfy reclining-chair maker La-Z-Boy (NYSE:LZB) said Tuesday it will pay a regular quarterly dividend of $0.04 per share on June 10 to the holders of record at the close of business on May 30.
After slashing its payout to shareholders in 2008 and then suspending the dividend, La-Z-Boy restarted the payment in the fourth quarter of 2012 at a rate of $0.04 per share.
La-Z-Boy is one of the world's leading residential furniture producers and sells its furniture through its Bauhaus, England, and La-Z-Boy divisions. It also sells furniture through American Drew, Lea, Hammary, and Kincaid. The company-owned retail segment includes 97 of the 316 La-Z-Boy Furniture Galleries stores.
The most recent dividend payment equates to a $0.16-per-share annual dividend yielding 0.9% based on the closing price of La-Z-Boy's stock on April 30.