La-Z-Boy Declares $0.242 Quarterly Dividend, Resumes Normal Share Buybacks
La-Z-Boy Incorporated's board approved a $0.242 per share quarterly cash dividend payable in March. The furniture maker also resumed regular share repurchases, buying back $14 million in stock during the quarter.
La-Z-Boy Incorporated declared a quarterly cash dividend of $0.242 per share, the company's board of directors announced February 17, 2026. Shareholders of record on March 3 will receive payment on March 13. Read more dividend announcements.
The dividend comes as the furniture retailer and manufacturer returned approximately $24 million to shareholders during its fiscal 2026 third quarter. That total included $10 million in dividend payments and $14 million in share repurchases, marking a return to more normalized buyback activity.
| Dividend Details | Date |
|---|---|
| Amount Per Share | $0.242 |
| Record Date | March 3, 2026 |
| Payment Date | March 13, 2026 |
| Declaration Date | February 17, 2026 |
| Frequency | Quarterly |
Third Quarter Financial Performance
La-Z-Boy ended the quarter with $306 million in cash and no external debt. The company generated $89 million in cash from operating activities, a 57% increase versus the prior year's third quarter. Year-to-date operating cash flow reached $176 million, up 40% from the comparable period last year.
Capital expenditures totaled $18 million during the quarter, directed primarily toward La-Z-Boy store openings and remodels, manufacturing investments, and the company's distribution and home delivery transformation initiative.
The company reported GAAP operating margin of 5.2% versus 6.5% in the prior year period. Adjusted operating margin came in at 6.0% compared to 6.5%, with the decline driven by expenses related to distribution investments and unfavorable foreign exchange rates.
Business Segment Updates
Joybird, the company's direct-to-consumer brand, faced continued pressure from macroeconomic headwinds. Written sales decreased 13% while delivered sales fell 3% to $36 million on lower volume. The Joybird consumer segment remains particularly volatile in the current environment.
Corporate and Other operating loss widened versus the prior year, primarily reflecting expense deleverage on lower Joybird delivered sales.
La-Z-Boy trades on the New York Stock Exchange under ticker symbol LZB.