Dividend Aristocrat Overview: Leggett & Platt, Inc.

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About Leggett & Platt

Leggett & Platt manufactures bedding and furniture components and finished products. The company, which dates back to 1883, has 19,000 employees and 130 manufacturing facilities in 18 countries. Leggett & Platt’s business is divided into four segments:

  1. Residential Furnishings, which supplies components that are used in finished bedding, furniture and carpet products. The customers for these products include finished bedding and upholstered furniture manufacturers.
  2. Commercial Fixturing & Components, which manufactures custom-designed retail store fixtures and point-of-purchase displays, standard shelving for retailers and grocery stores, private label finished furniture, and components for office chairs. Customers include retail chains, individual stores and commercial furniture manufacturers.
  3. Industrial Materials, which produces nearly 500,000 tons of steel rods annually, along with steel wire used in bedding coils and other furniture products along with nickel tubing for the aerospace industry. About 50% of the wire output and 15 – 20% of the steel tubing output is used by other Leggett & Platt divisions. Other customers include automotive seating manufacturers, aerospace suppliers and equipment manufacturers, and waste recyclers and waste removal businesses.
  4. Specialized Products, which develops various niche products such as automotive seat support and lumbar systems, racks and shelving for van interiors, and machinery for wire shaping, industrial sewing and quilting mattress covers. Customers for these products include automobile seating manufacturers, bedding manufacturers, and telecommunication, cable and delivery companies.

The company is a member of the S&P 500 index and trades under the ticker symbol LEG.

Leggett & Platt’s Dividend and Stock Split History

Leggett & Platt has paid dividends every year since 1972 and grown them every year since 2003.  The company usually announces annual dividend increases in May with the stock going ex-dividend in September.

Leggett & Platt has compounded its payout at an average rate of 4.5% over the last 5 years and 6.2% over the last 10 years.

Since meeting the Dividend Aristocrat criteria of 25 consecutive years of dividend growth in 1996, Leggett & Platt has split its stock once – a 2-for-1 split in June 1998.  Prior to that, Leggett & Platt split its stock 2-for-1 in September 1995 and June 1992, 3-for-2 in March 1986, 2-for-1 in August 1983, 3-for-2 in September 1978 and January 1973, and 5-for-3 in May 1969.

 

Leggett & Platt’s Direct Purchase and Dividend Reinvestment Plans

Leggett & Platt does not have a direct purchase or dividend reinvestment plan. If you’re interested in investing in Leggett & Platt stock, you can do so through any broker. You can also automatically reinvest dividends through most brokers. Contact your broker directly for more information.

Helpful Links

Leggett & Platt’s Investor Relations Website

Current quote and financial summary for Leggett & Platt (finviz.com)

Want to find out about more great dividend growth stocks?

Check out the list of current S&P Dividend Aristocrats.

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