This Unofficial Dividend King Is a Great Stock for Income Investors
The goal of dividend growth investors is to pick stocks that have both lengthy track records of raising their payouts and a proven ability to keep paying out year after year. The veteran manufacturer Leggett & Platt (NYSE: LEG) is a lesser-known stock that qualified as a Dividend King until just recently. Only S&P 500 index stocks qualify for the designation and Leggett & Platt got bumped out of the S&P 500 in December.