Leggett & Platt Declares 2025 Dividend Amid Board Changes
Leggett & Platt Declares Quarterly Dividend and Faces Board Changes
Leggett & Platt, a well-established company known for its diverse manufacturing capabilities, has made a noteworthy announcement regarding its quarterly dividend as it approaches significant changes in its board of directors.
Dividend Announcement
In a recent board meeting, Leggett & Platt declared a dividend of $0.05 per share for the second quarter of 2025. This decision reflects the company's commitment to returning value to its shareholders. The dividend is scheduled to be distributed to shareholders who are on record as of June 13, 2025, ensuring that they reap the benefits of this payment on July 15, 2025.
Annual Meeting Outcomes
During the annual meeting of shareholders, which took place recently, several key votes were aligned with the recommendations put forth by the board. Shareholders elected all eight nominees proposed by the board and ratified the selection of PricewaterhouseCoopers as the independent registered public accountant for the year 2025. Additionally, they endorsed the compensation packages for the company’s named executive officers and approved an amendment to the Flexible Stock Plan, which reflects the board's ongoing commitment to align with shareholder interests.
Retirement of Board Members
A significant shift occurred within Leggett & Platt's Board of Directors, with the retirement of two long-serving directors, Manuel Fernandez and Mark Blinn. Their resignations were officially noted prior to the annual meeting, marking the first time the board will operate with eight members, reduced from the previous count of ten. This transition represents not just a change in personnel but also a renewed opportunity for the surviving members to implement their strategic vision for the company.
Gratitude for Service
Karl Glassman, the board chairman as well as the president and CEO, expressed heartfelt appreciation for the contributions made by Fernandez and Blinn. His remarks highlighted the invaluable insights and dedication both directors provided during their tenure. Fernandez, a long-term board member, has played a crucial role, while Blinn, who joined in 2019, has offered fresh perspectives that have been instrumental to company growth.
Vision for the Future
Independent Lead Director Bob Brunner acknowledged the exemplary service of the departing members and conveyed confidence in the newly formed board. He emphasized that the remaining directors bring a wealth of experience and skill necessary for effective oversight and governance of the company as it moves forward.
Company Overview
Leggett & Platt (NYSE: LEG) stands as a pioneering manufacturer in various fields, producing a wide range of engineered components used in industries from home to automotive. For over 142 years, this company has established itself as a critical supplier of components like bedding elements, automotive seating systems, furniture components, hydraulic cylinders for heavy-duty applications, and much more. Their commitment to innovation and quality has allowed them to thrive in a competitive market, enriching the lives of consumers globally.
Contact Information
For further inquiries, Leggett & Platt welcomes communication through their Investor Relations department. Interested parties can reach out to their team at (417) 358-8131 for comprehensive assistance related to investment and company concerns.
Frequently Asked Questions
What is the amount of the declared dividend for 2025?
Leggett & Platt declared a quarterly dividend of $0.05 per share for the second quarter of 2025.
When will the dividend be paid out?
The dividend will be distributed on July 15, 2025, to shareholders who are on record as of June 13, 2025.
Who are the retired board members?
Manuel Fernandez and Mark Blinn have retired from the Board of Directors prior to the annual meeting.
How many directors are on the board after the recent changes?
Following the retirement of two directors, the board now consists of eight members.
What is Leggett & Platt known for?
Leggett & Platt is known for its diverse manufacturing capabilities, producing components for bedding, automotive applications, and furniture systems, among others.
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