Leggett & Platt announces 4.8% dividend increase for 2022

Leggett & Platt is a Dividend Aristocrat with more than 25 years of dividend growth.

Dividend Aristocrat Leggett & Platt (symbol LEG) will hike its quarterly dividend by 4.8% to 44 cents per share. This marks 51 years in a row of dividend growth for LEG.

Leggett & Platt's Board of Directors announced 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 possesses one of the highest yields among the Dividend Kings.

Leggett & Platt has seen its dividend growth slowing every year, with this 2022 dividend hike being the smallest since 2015. The average dividend growth rate in the last 5 years is 4.1% for LEG (source: dividendhike.com)

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 is a Dividend Aristocrat.