Leggett Declares Second Quarter Dividend

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Leggett Declares Second Quarter Dividend

Carthage, MO - The Board of Directors of Leggett & Platt, Incorporated (LEG:NYSE) today declared a $.13 per share second quarter dividend on the company’s common stock. The dividend will be paid on June 16, 1997 to shareholders record on May 30, 1997. This quarterly dividend is the same rate declared in the first quarter of 1997. It is 8% higher than the rate for the third and fourth quarters of 1996 and 18% above last year’s second quarter dividend.


The annual meeting of shareholders was held in Carthage this morning. Shareholders elected as directors the 13 nominees proposed by the Board and ratified the selection of independent accountants for 1997. Shareholders also approved an amendment to the company’s director stock option plan, and an amendment and restatement of the company’s 1989 flexible stock plan. There were no other proposals at the meeting. Leggett & Platt is a leading manufacturer serving major markets for components and related products for bedding, furniture and other furnishings; commercial fixtures, store displays, shelving and other products for office and commercial use; and materials, equipment and technologies for Leggett operations and other manufacturers. The company has plants and facilities throughout North America and several international locations. Its common stock is listed on the New York and Pacific Stock Exchange with the symbol LEG.