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Leggett & Platt

Leggett & Platt Inc. (NYSE:LEG)12/3 Dividend Yield: 4.2%

Talk about making products, Leggett & Platt (NYSE:LEG) was founded on the idea of developing and manufacturing a steel-coil bedspring that was patented in 1885. The designer, J.P. Leggett, joined forces with his future brother-in-law and manufacturer, C.B. Platt, to market the new product, and in 1901 the partnership was incorporated.

Today, the company is 20 business units rolled into 10 segments producing residential furniture, commercial fixtures and displays, and automotive parts and supplies. L&P sports a market cap of $1.3 billion, with dividends paid since 1939. Today’s 29-cents-per-share quarterly dividend gets you a dividend yield right at 4.19%. With a share price under $30 per share, it’s right in the sweet spot for your distribution funds. The company has also managed to increase its share price over 20% for the past one- and five-year periods. A definite win-win at LEG.

Article printed from InvestorPlace Media,

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