CARTHAGE, Mo., May 10, 2012 /PRNewswire/ --
- 2Q dividend is $.28 per share, an increase of 3.7% versus 2Q 2011.
- Indicated dividend yield is 5.4% (based on yesterday's $20.73 closing stock price).
- Dividends have increased for 41 consecutive years, at a 13% compound annual growth rate.
Leggett & Platt's Board of Directors announced a dividend of $.28 per share for the second quarter. The dividend will be paid on July 13, 2012 to shareholders of record on June 15, 2012.
The company has increased its annual dividend for 41 consecutive years, at an average compound growth rate of 13%. Notably, only 11 members of the S&P 500 have a longer string of consecutive annual dividend increases. In addition, Leggett & Platt possesses the highest dividend yield among the S&P 500's Dividend Aristocrats with more than 30 consecutive annual dividend increases.
Annual Meeting Results The annual meeting of Leggett & Platt shareholders was held this morning in Carthage, Missouri. Shareholders elected as directors the 12 nominees proposed by the Board; ratified the selection of PricewaterhouseCoopers as the company's independent registered public accountant for 2012; approved the amended and restated Flexible Stock Plan; approved the compensation of the company's executive officers; and rejected a shareholder proposal regarding the company's written non-discrimination policy. No other proposals were presented at the meeting.FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com. COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a diversified manufacturer (and member of the S&P 500) that conceives, designs and produces a variety of engineered components and products that can be found in most homes, offices, and automobiles. The 129-year-old firm is comprised of 20 business units, 18,000 employee-partners, and 130 manufacturing facilities located in 18 countries.