Leggett & Platt Increases Third Quarter Dividend to $.28

Aug 02, 2011, 11:12 ET from Leggett & Platt

CARTHAGE, Mo., Aug. 2, 2011 /PRNewswire/ --

  • Increased 3Q dividend to $.28 per share, an increase of 3.7%.
  • Indicated dividend yield is 5.3%.
  • Dividends have increased for 40 consecutive years, at a 14% compound growth rate.

Leggett & Platt's Board of Directors announced today that they are raising the company's quarterly dividend by one cent per share, or 3.7%, to $.28 per share for the third quarter. The dividend will be paid on October 14, 2011 to shareholders of record on September 15, 2011.

At an annual indicated dividend of $1.12 per share, the yield is 5.3%, based upon yesterday's closing stock price of $21.09 per share.

A member of Standard & Poor's Dividend Aristocrats, Leggett & Platt has increased its annual dividend for 40 consecutive years at an average compound growth rate of 14%, a record very few companies have attained.

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 that can be found in most homes, offices, and automobiles. The company serves a broad suite of customers that comprise a "Who's Who" of U.S. manufacturers and retailers. The 128-year-old firm is comprised of 19 business units, 19,000 employee-partners, and 140 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) power bed foundations; and g) bedding industry machinery.

CONTACT: Investor Relations, (417) 358-8131 or invest@leggett.com David M. DeSonier, Senior Vice President of Strategy and Investor Relations Susan R. McCoy, Staff Vice President of Investor Relations

SOURCE Leggett & Platt