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Leggett & Platt Announces Quarterly Dividend Of $.29

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

  • 4Q dividend is $.29 per share, an increase of 3.6% versus 4Q 2011
  • Indicated dividend yield is 4.3%
  • Annual dividends have increased for 41 consecutive years

Leggett & Platt's Board of Directors announced a dividend of $.29 per share for the fourth quarter.  The dividend will be paid on December 27, 2012 to shareholders of record on December 10, 2012. 

The company has typically paid its fourth quarter dividend in January.  However, given the significant pending increase of the federal tax rate on dividend income in 2013, the company opted to accelerate payment into December.

At an annual indicated dividend of $1.16 per share, the yield is 4.3%, based upon yesterday's closing stock price of $27.01 per share.  Accordingly, Leggett & Platt possesses the highest dividend yield among all the S&P 500's Dividend Aristocrats with more than 30 consecutive annual dividend increases.

Leggett & Platt has increased its annual dividend for 41 consecutive years, at a 13% compound average growth rate.  Only 11 members of the S&P 500 have a longer string of 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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