La-Z-Boy Suspends Dividend To Conserve Cash

February 20, 2009   |  Written by: admin

La-Z-Boy Inc (LZB: 13.82 0.00%) suspended their quarterly dividend in the face of mounting losses.

The company reported a loss of $64.4 million in their fiscal third quarter on a 23% decline in sales. The company has been taking measures to cut costs, including closing stores and reducing headcount. Suspending their quarterly dividend is the latest effort to try and conserve cash in the face of an uncertain economic future.

• Goldman Sachs Increases Dividend By 31 Percent
• 16th Consecutive Annual TJX Dividend Increase
• Apple Dividend Is Finally Here
• Walmart Increases Dividend for 39th Consecutive Year
• St. Jude Medical Declares 10 Percent Dividend Increase