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Leggett & Platt Announces Dividend And Annual Meeting Results

Stocks in this article: LEG

CARTHAGE, Mo., May 7, 2014 /PRNewswire/ --

  • Second quarter dividend is $.30 per share, an increase of 3.4% versus 2Q 2013
  • Indicated dividend yield is 3.7%, one of the highest among the S&P 500
  • Annual Meeting addressed five items of business; voting aligned with Board recommendations

Leggett & Platt's Board of Directors announced a dividend of $.30 per share for the second quarter, a 3.4% increase versus the dividend declared in the second quarter 2013.  The dividend will be paid on July 15, 2014 to shareholders of record on June 13, 2014.

At an annual indicated dividend of $1.20 per share, the yield is 3.7%, based upon yesterday's closing stock price of $32.27 per share.  Accordingly, Leggett & Platt possesses one of the highest dividend yields among the S&P 500 companies.

A member of Standard & Poor's Dividend Aristocrats, Leggett & Platt has increased its annual dividend for 43 consecutive years at an average compound growth rate of 13%, a record only one other S&P 500 company has attained.

Annual Meeting Results The annual meeting of Leggett & Platt shareholders was held this morning in Carthage, Missouri.  Shareholders elected as directors the 11 nominees proposed by the Board; ratified the selection of PricewaterhouseCoopers as the company's independent registered public accountant for 2014;  endorsed the compensation of the company's executive officers; approved the 2014 Key Officers Incentive Plan; and rejected a shareholder proposal regarding the company's written non-discrimination policy.  No other proposals were voted upon.

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 broad variety of engineered components and products found in most homes, offices, and automobiles. The 131-year-old firm is comprised of 20 business units, 19,000 employee-partners, and 130 manufacturing facilities located in 18 countries.

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