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Dividend Stock #2 Leggett & Platt (LEG)

Leggett & Platt Inc. (NYSE: LEG) Founded in 1883, Leggett & Platt Inc. (NYSE: LEG) designs and manufactures a wide range of products used in items from home furnishings to automobile interiors to wires and tubing for industrial use.

  • Current Yield: 4.1% ($1.08 a share annually)
  • Dividend History: In July 2010, Leggett & Platt paid a quarterly dividend of 26 cents a share. This July, LEG it will pay 27 cents, or a nearly 4% increase. LEG has paid dividends since 1939.
  • Dividend Outlook: According to Bloomberg data, LEG’s three-year dividend growth rate is expected to be 3.6%.
  • Recent Performance: Leggett & Platt has underperformed across the last year, but has really taken off in 2011. The manufacturer has doubled the market with a nearly 15% gain since Jan. 1, and is up against a new 52-week high.
  • Strong Outlook for Shares: Part of the reason Leggett & Platt has performed so well is because of strong earnings at the end of April, which showed a 10% jump in sales, beating expectations, and higher guidance for fiscal 2011. Big growth of 28% in the specialized products segment gives investors reason to be optimistic about LEG stock for the rest of the year.

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