Leggett & Platt hikes dividend by 4.8%

Dividend Aristocrat Leggett & Platt's (LEG) Board of Directors announced today 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 will now pay an estimated $235 million in dividend annually.

Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The company’s products include  steel coiled bedsprings, components and finished products for the office seating market, automotive seating components and tubing for the aerospace industry, specialized machinery and equipment, and service van interiors. Leggett & Platt operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. Its brands include ComfortCore, Mira-Coil, VertiCoil, Quantum, Nanocoil, Lura-Flex and Active Support Technology, which includes mattress innersprings; Semi-Flex, which includes box spring components and foundations; Spuhl, which includes mattress innerspring manufacturing machines; Wall Hugger, which includes recliner chair mechanisms; Super Sagless, which includes motion and sofa sleeper mechanisms; No-Sag, which includes wire forms used in seating; LPSense, which includes capacitive sensing; Hanes, which includes fabric materials; Schukra, Pullmaflex and Flex-O-Lator, which includes automotive seating products, and Gribetz and Porter, which includes quilting and sewing machines.