Monday, May 30, 2011

Dividend Machine Leggett & Platt May 30, 2011

                As an income investor you want to sleep well at night.  Income investors should consider owning the company that invented the steel coil bedspring.  Leggett and Platt, symbol LEG, invented the steel coil bedspring and has evolved into a creator and manufacturer of specialty metal products. LEG has operations in 20 different countries. 

LEG will pay a dividend of $.27 on July 15, 2011 provided you own it by June, 13.2011.   At the closing price of $25.59 on Friday, LEG’s dividend yield is 4.22%.

Earnings per share are $1.16 with a recent income growth rate of greater than 50 percent.  Debt to equity (D/E) ratio for LEG is a very respectable. 57.  Review this company and see if it fits into the income-producing portion of your portfolio.  LEG is a reliable dividend machine; it provides diversification; and, you will sleep at night.

Very Truly Yours,

Enhanced by Zemanta