CARTHAGE, Mo., May 17, 2016 /PRNewswire/ --
- Second quarter dividend is $.34 per share, an increase of $.02 versus the first quarter 2016
- Indicated dividend yield is 2.8%, one of the highest among the S&P 500 Dividend Aristocrats
- Annual Meeting addressed 3 items of business; voting aligned with Board recommendations
Leggett & Platt's Board of Directors announced a $.02 dividend increase, its largest quarterly dividend increase since 2007. The second quarter dividend of $.34 per share reflects 9.7%, or $.03, growth versus the $.31 per share dividend declared in the second quarter 2015. The dividend will be paid on July 15, 2016 to shareholders of record on June 15, 2016.
At an annual indicated dividend of $1.36 per share, the yield is 2.8%, based upon yesterday's closing stock price of $49.09 per share. Accordingly, Leggett & Platt possesses one of the highest dividend yields among the S&P 500 Dividend Aristocrats.
Leggett & Platt has increased its annual dividend for 45 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 9 nominees proposed by the Board; ratified the selection of PricewaterhouseCoopers as the company's independent registered public accountant for 2016; and endorsed the compensation of the company's executive officers. No other proposals were voted upon.
FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com.
COMPANY DESCRIPTION: At Leggett & Platt (NYSE: LEG), we create innovative products that enhance people's lives, generate exceptional returns for our shareholders, and provide sought-after jobs in communities around the world. L&P is a 133 year-old diversified manufacturer that designs and produces engineered products found in most homes and automobiles. The company is comprised of 17 business units, 20,000 employee-partners, and 130 manufacturing facilities located in 19 countries.
Leggett & Platt is the leading U.S. manufacturer of: a) components for residential furniture and bedding; b) carpet cushion; c) adjustable bed bases; d) work furniture and components; e) high-carbon drawn steel wire; f) automotive seat support & lumbar systems; and g) bedding industry machinery.
CONTACT: Investor Relations, (417) 358-8131 or email@example.com
David M. DeSonier, Senior Vice President of Corporate Strategy and Investor Relations
Susan R. McCoy, Vice President of Investor Relations
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SOURCE Leggett & Platt