Leggett & Platt hikes 2023 dividend by 4.5% | 52nd conscutive year of growth
On May 4, 2023, Dividend Aristocrat Leggett & Platt (symbol LEG) announced a 4.5% dividend hike to 46 cents quarterly. This marks the 52nd consecutive year of dividend growth by LEG.
Leggett & Platt's Board of Directors announced a dividend of $.46 per share for the second quarter, an increase of $.02 per share or 4.5% versus the dividend declared in the second quarter of 2022. The dividend will be paid on July 14, 2023 to shareholders of record on June 15, 2023.
At an annual indicated dividend of $1.84 per share, the yield is 5.7%, based upon yesterday's closing stock price of $32.25 per share. Leggett & Platt has increased its annual dividend for 52 consecutive years and possesses one of the highest yields among the Dividend Kings.
In 2022 Leggett & Platt hiked its dividend by 4.8% to $0.44 quarterly per share. The average annual dividend growth for LEG is 3.9% based on the last 5 years (5 yr CAGR).
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.