MONROE, Mich., May 4 /PRNewswire-FirstCall/ -- Directors of La-Z-Boy Incorporated (NYSE: LZB; PCX) today declared a quarterly cash dividend on the company's common stock of $0.11 per share, a 10% increase over the $0.10 per share dividend paid in the previous quarter. The dividend is payable June 10, 2004 to shareholders of record as of May 28, 2004.

With annual sales in excess of $2 billion, La-Z-Boy Incorporated is one of the world's leading residential furniture producers and marketers. La-Z-Boy's operating units produce furniture for every room of the home and office, and the company is also a leading manufacturer of hospitality and assisted-living contract furniture and specialized health care seating. The La-Z-Boy Incorporated Upholstery Group family of companies includes Bauhaus, Centurion, Clayton Marcus, England, La-Z-Boy, La-Z-Boy Contract Furniture Group and Sam Moore, while the Casegoods Group companies are Alexvale, American Drew, American of Martinsville, Hammary, Kincaid, Lea and Pennsylvania House.

Additional information about the company is available at www.la-z-boy.com , and an e-mail service which provides notification of new news releases, SEC filings and investor conference calls is available at: http://my.lazboy.com/mygallery/investor_relations.htm

SOURCE  La-Z-Boy Incorporated
    -0-                             05/04/2004
    /CONTACT:  Mark Stegeman of La-Z-Boy Incorporated, +1-734-241-4418,
mark.stegeman@la-z-boy.com /
    /Web site:  http://www.la-z-boy.com
                http://my.lazboy.com/mygallery/investor_relations.htm /
    (LZB)

CO:  La-Z-Boy Incorporated
ST:  Michigan
IN:  HOU REA
SU:  DIV

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4094 05/04/2004 14:34 EDT http://www.prnewswire.com