Leggett Increases Dividend
The Board of Directors of Leggett & Platt, Incorporated today increased the third quarter dividend to $.14 per share, up from the previous quarterly rate of $.13 per share. The new rate will be paid on September 15, 1997 to shareholders of record on August 29, 1997.
Dividends have been increased on Leggett’s stock for 26 consecutive years and twice in 1997. Following an increase this past February, dividends for the first and second quarters were $.13 per share. This year’s third quarter dividend is 8% higher than the previous quarterly rate and 17% above the 1996 third quarter dividend. Over the last 26 years, the quarterly dividend has increased 42 fold, or 15.5% compounded annually.
Leggett & Platt is a leading manufacturer serving several major markets. Leggett’s engineered products include components and related products for bedding, furniture and other furnishings, plus commercial fixtures, store displays, shelving and other products for office and commercial use. Other major Leggett products are materials, equipment and technologies for Leggett operations and other manufacturers. Leggett has facilities throughout North America and several international locations. Its common stock is listed on the New York and Pacific Stock Exchanges with the symbol LEG.