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Monday, 05/22/2023 10:06:42 AM

Monday, May 22, 2023 10:06:42 AM

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"Leggett & Platt's (NYSE:LEG) Dividend Will Be Increased To $0.46"

"The board of Leggett & Platt, Incorporated (NYSE:LEG) has announced that it will be paying its dividend of $0.46 on the 14th of July, an increased payment from last year's comparable dividend. This will take the annual payment to 5.7% of the stock price, which is above what most companies in the industry pay.

View our latest analysis for Leggett & Platt

Leggett & Platt's Payment Has Solid Earnings Coverage
A big dividend yield for a few years doesn't mean much if it can't be sustained. The last payment made up 88% of earnings, but cash flows were much higher. In general, cash flows are more important than earnings, so we are comfortable that the dividend will be sustainable going forward, especially with so much cash left over for reinvestment.

Over the next year, EPS is forecast to fall by 2.7%. Assuming the dividend continues along recent trends, we think the payout ratio could reach 93%, which is definitely on the higher side."

https://finance.yahoo.com/news/leggett-platts-nyse-leg-dividend-101503935.html

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