Leggett & Platt increases dividend for 44th consecutive year

Leggett & Platt will raise its dividend by 3.2%.

Dividend Aristocrat Leggett & Platt will increase its quarterly dividend from $0.31 to $0.32 per share, marking 44 years of consecutive dividend increases.

"Leggett & Platt's Board of Directors announced today that they are raising the company's quarterly dividend by one cent per share, or 3.2%, to $.32 per share for the third quarter. The dividend will be paid on October 15, 2015 to shareholders of record on September 15, 2015.

At an annual indicated dividend of $1.28 per share, the stock's dividend yield is 2.7%, based upon yesterday's closing stock price of $47.69 per share.

The company has increased its annual dividend for 44 consecutive years, at a 13% compound average growth rate. Only one other S&P 500 company can claim as high a rate of dividend growth for as many years."

Source: Leggett & Platt

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