House & Home
Mon, March 23, 2009Fri, March 20, 2009Thu, March 19, 2009Wed, March 18, 2009Tue, March 17, 2009Mon, March 16, 2009Fri, March 13, 2009Thu, March 12, 2009Wed, March 11, 2009Tue, March 10, 2009Mon, March 9, 2009Fri, March 6, 2009Thu, March 5, 2009Wed, March 4, 2009Tue, March 3, 2009Mon, March 2, 2009Fri, February 27, 2009Thu, February 26, 2009Wed, February 25, 2009Tue, February 24, 2009Mon, February 23, 2009Fri, February 20, 2009Thu, February 19, 2009Wed, February 18, 2009Tue, February 17, 2009Mon, February 16, 2009Fri, February 13, 2009Thu, February 12, 2009Wed, February 11, 2009Tue, February 10, 2009Mon, February 9, 2009Fri, February 6, 2009Thu, February 5, 2009Wed, February 4, 2009Leggett & Platt, Incorporated: Leggett & Platt Announces Quarterly Dividend
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Published in House and Home on Thursday, February 19th 2009 at 12:31 GMT, Last Modified on 2009-02-19 12:32:39 by Market WireCARTHAGE, MO--(Marketwire - February 19, 2009) - Leggett & Platt (
-- 1Q dividend is $.25 per share -- Indicated dividend yield is 8.0% (based on yesterday's $12.45 closing stock price)
Leggett & Platt's Board of Directors announced a dividend of $.25 per share for the first quarter. The dividend will be paid on April 15, 2009 to shareholders of record on March 13, 2009.
Chairman of the Board, Richard T. Fisher, stated, "Leggett & Platt continues to view dividends as a key element of its goal to consistently achieve Total Shareholder Return (TSR(1)) within the top one-third of the S&P 500. The company is proud of its 37-year record of dividend increases, and hopes to extend that record well into the future."
The company believes that 2009 cash flow from operations should exceed $300 million, and be more than sufficient to fund the estimated $255 million needed for capital expenditures and dividends. Leggett's financial position is strong, with: i) net debt-to-capital well below the company's long-term target range of 30%-40%, ii) no significant long-term debt maturing until 2012, and iii) more than $500 million available under the company's existing commercial paper program and revolver facility.
FOR MORE INFORMATION: Visit Leggett's website at [ www.leggett.com ].
COMPANY DESCRIPTION: Leggett & Platt (
Leggett & Platt is North America's leading independent manufacturer of: a) components for residential furniture and bedding; b) components for office furniture; c) drawn steel wire; d) automotive seat support and lumbar systems; e) carpet underlay; f) adjustable beds; and g) bedding industry machinery.
FORWARD-LOOKING STATEMENTS: Statements in this release that are not historical in nature are "forward-looking." These statements involve uncertainties and risks, including the company's ability to improve operations and realize cost savings, price and product competition from foreign and domestic competitors, changes in demand for the company's products, cost and availability of raw materials and labor, fuel and energy costs, future growth of acquired companies, general economic conditions, foreign currency fluctuation, litigation risks, and other factors described in the company's Form 10-K. Any forward-looking statement reflects only the company's beliefs when the statement is made. Actual results could differ materially from expectations, and the company undertakes no duty to update these statements.
(1) TSR = (Change in Stock Price + Dividends Received) / Beginning Stock Price
