Leggett & Platt (LEG) has its hands in several pies, including producing steel wire, designing and manufacturing seating support systems for automobiles, and making components for manufacturers of upholstered furniture, beds, and other home furnishings.
Analysts expect flooring and office furniture to realize a slow sales recovery in 2021 as commercial and retailer market conditions improve.
Although it’s not a particularly famous company, it has been a dividend champion for long-term investors. Leggett & Platt’s payout has gotten better for 48 consecutive years and 56 of the past 57 years.
LEG last increased its dividend in May 2019, a 5.3% improvement to 40 cents per share. The company has yet to raise it since then, however, so income investors should keep close watch over this one.