La-Z-Boy Directors Declare Quarterly Dividend, Authorize 4 Million Share Stock Repurchase
The directors also authorized the repurchase of up to an additional 4 million shares of the corporation's common stock such times and prices deemed opportune by corporate management. The previous 3 million share stock repurchase authorization, approved by the directors in February 2000, still has 590,000 shares remaining.
With annual sales in excess of $2 billion, La-Z-Boy Incorporated is one of the world's leading residential furniture producers. The La-Z-Boy Incorporated family of companies -- Alexvale, American Drew, Bauhaus, Centurion, Clayton Marcus, England, Hammary, HickoryMark, Kincaid, La-Z-Boy, La-Z-Boy Contract Furniture Group, Lea, Pennsylvania House and Sam Moore -- produces furniture for every room of the home and office. And La-Z-Boy Incorporated is also a leading manufacturer of hospitality and assisted-living contract furniture under the American of Martinsville brand.
The corporation's vast proprietary distribution network is dedicated exclusively to selling La-Z-Boy Incorporated products and brands, and includes 295 stand-alone La-Z-Boy Furniture Galleries(R) and 324 La-Z-Boy In-Store Gallerys, in addition to in-store gallery programs at the company's Kincaid, Pennsylvania House, Clayton Marcus, England and Lea divisions. According to industry trade publication Furniture/Today, the La-Z-Boy Furniture Galleries retail network by itself represents the industry's fifth largest U.S. furniture retailer. Additional information is available at www.la-z-boy.com .
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SOURCE La-Z-Boy Incorporated
CONTACT: Mark Stegeman of La-Z-Boy Incorporated, +1-734-241-4418, or
mark.stegeman@la-z-boy.com
URL: http://www.la-z-boy.com
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