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Leggett Announces Dividend Increase And Annual Meeting Results

CARTHAGE, Mo., May 9, 2017 /PRNewswire/ --

  • Increased second quarter dividend by $.02, or 5.9%, to $.36 per share
  • Indicated dividend yield is 2.7%, one of the higher among the S&P 500 Dividend Aristocrats
  • Annual Meeting addressed four items of business; voting aligned with Board recommendations

Leggett & Platt's Board of Directors announced a dividend of $.36 per share for the second quarter, an increase of $.02 per share or 5.9% versus the dividend declared in the second quarter of 2016.  The dividend will be paid on July 14, 2017 to shareholders of record on June 15, 2017.

A member of Standard & Poor's Dividend Aristocrats, Leggett & Platt has increased its annual dividend for 46 consecutive years. At an annual indicated dividend of $1.44 per share, the yield is 2.7%, based upon yesterday's closing stock price of $53.45 per share.  Accordingly, Leggett & Platt possesses one of the higher dividend yields among the S&P 500 Dividend Aristocrats.

Annual Meeting Results
The annual meeting of Leggett & Platt shareholders was held this morning in Carthage, Missouri.  Shareholders elected as directors the 9 nominees proposed by the Board; ratified the selection of PricewaterhouseCoopers as the company's independent registered public accountant for 2017; endorsed the compensation of the company's executive officers; and recommended an advisory vote on executive compensation every year.  No other proposals were voted upon.

FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com.

COMPANY DESCRIPTION:  At Leggett & Platt (NYSE: LEG), we create innovative products that enhance people's lives, generate exceptional returns for our shareholders, and provide sought-after jobs in communities around the world. L&P is a 134 year-old diversified manufacturer that designs and produces engineered products found in most homes and automobiles. The company is comprised of 17 business units, 21,000 employee-partners, and 130 manufacturing facilities located in 19 countries.

Leggett & Platt is the leading U.S. manufacturer of: a) bedding components; b) automotive seat support and lumbar systems; c) components for home furniture and work furniture; d) carpet cushion; e) adjustable beds; f) high-carbon drawn steel wire; and g) bedding industry machinery.

CONTACT:   Investor Relations, (417) 358-8131 or invest@leggett.com
David M. DeSonier, Senior Vice President of Corporate Strategy and Investor Relations
Susan R. McCoy, Vice President of Investor Relations
Wendy M. Watson, Director of Investor Relations

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/leggett-announces-dividend-increase-and-annual-meeting-results-300454292.html

SOURCE Leggett & Platt