Leggett & Platt's Board of Directors announced a dividend of $.27 per share for the second quarter. The dividend will be paid on July 15, 2011 to shareholders of record on June 15, 2011.
The company has increased its annual dividend for 40 consecutive years, at an average compound growth rate of 14%. A member of Standard & Poor's Dividend Aristocrats, Leggett & Platt knows of only one other S&P 500 company that has achieved as long a string of consecutive annual dividend increases at the growth rate Leggett has sustained.
Annual Meeting Results
The annual meeting of Leggett & Platt shareholders was held this morning in Carthage, Missouri. Shareholders elected as directors the 12 nominees proposed by the Board; ratified the selection of PricewaterhouseCoopers as the company's independent registered public accountant for 2011; approved the compensation of the company's executive officers; recommended an advisory vote on executive compensation every year; and rejected a shareholder proposal regarding the company's written non-discrimination policy. No other proposals were presented at the meeting.
COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a diversified manufacturer (and member of the S&P 500) that conceives, designs and produces a broad variety of engineered components and products that can be found in most homes, offices, and automobiles. The company serves a broad suite of customers that comprise a "Who's Who" of U.S. manufacturers and retailers. The 128-year-old firm is comprised of 19 business units, 19,000 employee-partners, and 140 manufacturing facilities located in 18 countries.
Leggett & Platt is the leading U.S. manufacturer of: a) components for residential furniture and bedding; b) office furniture components; c) drawn steel wire; d) automotive seat support and lumbar systems; e) carpet underlay; f) power foundations; and g) bedding industry machinery.
David M. DeSonier, Senior Vice President of Strategy and Investor Relations
Susan R. McCoy, Director of Investor Relations
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