La-Z-Boy Incorporated LZB is projected to reveal its Q3 fiscal 2024 earnings after the market closes on Feb. 20, 2024.
An estimate of 72 cents per share is expected for the quarterly earnings, compared to 91 cents per share reported a year ago. The company is forecasted to post revenue of $523.09 million.
Embracing its investment in furniture market showrooms, the Monroe, Michigan-based company recently announced this strategic move.
La-Z-Boy demonstrated its potential during the previous quarter, surpassing anticipated financial results while raising its quarterly cash dividend from 18 cents to 20 cents per share in November.
Given the recent buzz around La-Z-Boy, investors are considering potential gains from the company’s dividends. Currently, La-Z-Boy offers an annual dividend yield of 2.10%, which translates to a quarterly dividend of 20 cents a share (80 cents per year).
Investing in the dividend yield, how can investors aim for a regular $500 monthly?
To earn $500 monthly, translating to $6,000 annually from dividends alone, an approximate investment of $285,225 or around 7,500 shares is required. For a more modest $100 monthly, equaling $1,200 annually, an investment of $57,045 or about 1,500 shares would be necessary.
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To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.80), yielding 7,500 shares for $500 per month and 1,500 shares for $100 per month.
It is important to note that dividend yield can fluctuate, as both the dividend payment and the stock price are subject to change over time.
How that works: The dividend yield is determined by dividing the annual dividend payment by the stock’s current price.
For instance, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would stand at 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).
In the same vein, changes in the dividend payment can also impact the yield. If a company increases its dividend, the yield will rise, provided the stock price remains constant. Conversely, if the dividend payment decreases, so will the yield.
LZB Price Action: La-Z-Boy’s shares incurred a 1.1% decline, concluding at $38.03 on Friday.
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Image created using artificial intelligence with MidJourney.
