Leggett & Platt’s 2Q Dividend Up 14%
Carthage, MO, May 5--Diversified manufacturer Leggett & Platt's Board of Directors declared a second quarter dividend of $.16 per share today. This is a 14.3% increase over last year's second quarter dividend of $.14 per share, and a 6.7% increase from the 2005 first quarter dividend. The dividend will be paid on July 15, 2005 to shareholders of record on June 15, 2005.
The company's dividends have increased annually for 34 consecutive years, at an average compound growth rate of better than 14%. Leggett knows of only one Fortune 500 company with a longer string of consecutive annual increases and a higher compound growth rate.
The annual meeting of Leggett & Platt shareholders was held in Carthage this morning. Shareholders elected as directors the 11 nominees proposed by the Board; ratified the selection of PriceWaterhouseCoopers as the company's independent auditors for the year ending December 31, 2005; and approved an amendment and restatement of the company's Flexible Stock Plan. There were no other proposals presented at the shareholders' meeting.
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