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

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