Leggett & Platt increases dividend for 45th consecutive year

Leggett & Platt (LEG) will raise its dividend by 6.3%.

Dividend Aristocrat Leggett & Platt will increase its quarterly dividend to $0.34 per share, marking 45 years of consecutive dividend increases.

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.

Source: Leggett & Platt

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