LEGGETT & PLATT ANNOUNCES DIVIDEND INCREASE AND ANNUAL MEETING RESULTS

Rhea-AI Summary

Leggett & Platt announced a 4.8% increase in its second quarter dividend, raising it to $.44 per share. This translates to an annual indicated dividend of $1.76 per share, yielding 4.7% based on the prior day's close of $37.08. The dividend will be paid on July 15, 2022, to shareholders of record by June 15, 2022. The company has a strong history, having increased its annual dividend for 51 consecutive years. In the annual meeting, shareholders approved all Board recommendations, including the election of directors and accounting firm choices.

Positive

• Increased dividend by $.02, or 4.8%, to $.44 per share.
• Indicated dividend yield is 4.7%, appealing to income-focused investors.
• 51 consecutive years of annual dividend increases demonstrate consistent performance.

Negative

• None.

CARTHAGE, Mo., May 17, 2022 /PRNewswire/ --

• Increased second quarter dividend by $.02, or 4.8%, to $.44 per share
• Indicated dividend yield is 4.7%
• Annual meeting addressed three items of business; voting aligned with Board recommendations

Leggett & Platt's Board of Directors announced a dividend of $.44 per share for the second quarter, an increase of $.02 per share or 4.8% versus the dividend declared in the second quarter of 2021.  The dividend will be paid on July 15, 2022 to shareholders of record on June 15, 2022.

At an annual indicated dividend of $1.76 per share, the yield is 4.7%, based upon yesterday's closing stock price of $37.08 per share.  Leggett & Platt has increased its annual dividend for 51 consecutive years and possesses one of the highest yields among the Dividend Kings.

Annual Meeting Results

The annual meeting of Leggett & Platt shareholders was held this morning.  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 2022; and endorsed the compensation of the Company's named executive officers.  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 that designs and produces a broad variety of engineered components and products that can be found in most homes and automobiles. The 139-year-old Company is comprised of 15 business units, approximately 20,000 employees, and 130 manufacturing facilities located in 17 countries. 

Leggett & Platt is the leading U.S.-based manufacturer of: a) bedding components; b) automotive seat support and lumbar systems; c) specialty bedding foams and private label finished mattresses; d) components for home furniture and work furniture; e) flooring underlayment; f) adjustable beds; and g) bedding industry machinery.

CONTACT:   Investor Relations, (417) 358-8131 or invest@leggett.com  
Susan R. McCoy, Senior Vice President of Investor Relations  
Cassie J. Branscum, Senior Director of Investor Relations

 

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SOURCE Leggett & Platt

FAQ

What is the new dividend amount for Leggett & Platt (LEG)?

The new dividend amount for Leggett & Platt is $.44 per share.

When will Leggett & Platt's dividend be paid?

The dividend will be paid on July 15, 2022.

What is the dividend yield for Leggett & Platt (LEG)?

The indicated dividend yield for Leggett & Platt is 4.7%.

How long has Leggett & Platt been increasing its dividend?

Leggett & Platt has increased its annual dividend for 51 consecutive years.