The Dividend Aristocrats are widely considered to be the
best-of-the-best when it comes to dividend growth stocks. Indeed, the Dividend
Aristocrats are an exclusive group of 57 stocks in the S&P 500 Index with
at least 25 years of annual dividend increases. The Dividend Aristocrats have
long-lasting brand power, competitive advantages, and shareholder-friendly
management teams that are committed to growing profits and dividends over the
long-term.
But on occasion, even the Dividend Aristocrats experience downturns.
Leggett & Platt (LEG) is a Dividend Aristocrat, having raised its dividend
for 48 years in a row. But the stock has declined 12% in the past three months,
and has underperformed the broader S&P 500 Index by a wide margin to start
2019.
However, Leggett & Platt has a plan to overcome the
recent challenges and continue to grow for the long-term. The stock has an
attractive valuation, and a high dividend yield above 4%. Therefore, Leggett
& Platt is one of the best dividend stocks for long-term dividend growth
investors.
Business Overview & Recent Events
Leggett & Platt is a diversified manufacturing company.
It designs and manufactures a wide range of products, including bedding
components, bedding industry machinery, steel wire, adjustable beds, carpet
cushioning, and vehicle seat support systems. The company has a large and
diverse product portfolio.
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