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Leggett & Platt Increases Quarterly Dividend To $.29

Stocks in this article: LEG

CARTHAGE, Mo., Aug. 8, 2012 /PRNewswire/ --

  • 3Q dividend is $.29 per share, an increase of 3.6%
  • Indicated dividend yield is 5.0%
  • Dividends have increased for 41 consecutive years

 

Leggett & Platt's Board of Directors announced today that they are raising the company's quarterly dividend by one cent per share, or 3.6%, to $.29 per share for the third quarter.  The dividend will be paid on October 15, 2012 to shareholders of record on September 14, 2012.

At an annual indicated dividend of $1.16 per share, the yield is 5.0%, based upon yesterday's closing stock price of $23.01 per share.

The company has increased its annual dividend for 41 consecutive years, at a 13% compound average growth rate.  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 that have posted more than 30 consecutive annual dividend increases.

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.

Leggett & Platt is the leading U.S. manufacturer of: a) components for residential furniture and bedding; b) office furniture components; c) drawn steel wire; d) automotive seat support and lumbar systems; e) carpet underlay; f) adjustable bed bases; and g) bedding industry machinery.

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