0000058492-20-000011.txt : 20200515 0000058492-20-000011.hdr.sgml : 20200515 20200515162419 ACCESSION NUMBER: 0000058492-20-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20200515 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200515 DATE AS OF CHANGE: 20200515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEGGETT & PLATT INC CENTRAL INDEX KEY: 0000058492 STANDARD INDUSTRIAL CLASSIFICATION: HOUSEHOLD FURNITURE [2510] IRS NUMBER: 440324630 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07845 FILM NUMBER: 20885724 BUSINESS ADDRESS: STREET 1: NO. 1 LEGGETT ROAD CITY: CARTHAGE STATE: MO ZIP: 64836 BUSINESS PHONE: (417) 358-8131 MAIL ADDRESS: STREET 1: NO. 1 LEGGETT ROAD CITY: CARTHAGE STATE: MO ZIP: 64836 8-K 1 a8-k2020pressrelease.htm FORM 8-K Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 15, 2020 

LEGGETT & PLATT, INCORPORATED
(Exact name of registrant as specified in its charter)  

 
 
 
 
 
Missouri
 
001-07845
 
44-0324630
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
 
 
 
 
No. 1 Leggett Road,
 
 
Carthage,
MO
 
64836
(Address of principal executive offices)
 
(Zip Code)
Registrant’s telephone number, including area code 417-358-8131
N/A
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):  
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol
Name of Each Exchange on
Which Registered
Common Stock, $.01 par value
LEG
New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐




Item 7.01 Regulation FD Disclosure.
On May 15, 2020, Leggett & Platt, Incorporated issued a press release announcing a dividend declaration, annual meeting results, and an amendment to its credit agreement. The press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
d) Exhibits.

EXHIBIT INDEX

Exhibit No.
 
                                                           Description
 
 
99.1*
 
 
 
 
101.INS
 
Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
 
 
 
101.SCH**
 
Inline XBRL Taxonomy Extension Schema
 
 
 
101.CAL**
 
Inline XBRL Taxonomy Extension Calculation Linkbase
 
 
 
101.DEF**
 
Inline XBRL Taxonomy Extension Definition Linkbase
 
 
 
101.LAB**
 
Inline XBRL Taxonomy Extension Label Linkbase
 
 
 
101.PRE**
 
Inline XBRL Taxonomy Extension Presentation Linkbase
 
 
 
104
 
Cover Page Interactive Data File (embedded within the Inline XBRL document contained in Exhibit 101)
 
 
 
* Denotes furnished herewith.
** Denotes filed herewith.

2




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
 
 
 
 
 
 
LEGGETT & PLATT, INCORPORATED
 
 
 
 
Date: May 15, 2020
 
 
 
By:
 
/s/ SCOTT S. DOUGLAS
 
 
 
 
 
 
Scott S. Douglas
 
 
 
 
 
 
Senior Vice President -
 
 
 
 
 
 
General Counsel & Secretary


3
EX-99.1 2 a991-8xk2020pressrelea.htm EXHIBIT 99.1 PRESS RELEASE DATED MAY 15, 2020 Exhibit
Exhibit 99.1


lp.jpg lpa01.jpg

FOR IMMEDIATE RELEASE: MAY 15, 2020    

LEGGETT ANNOUNCES DIVIDEND, ANNUAL MEETING RESULTS
AND CREDIT AGREEMENT AMENDMENT

Carthage, MO, May 15, 2020 ---
Second quarter dividend of $.40 per share
Indicated dividend yield is 5.9%, one of the highest among the S&P 500 Dividend Aristocrats
Annual Meeting addressed four items of business; voting aligned with Board recommendations
Amended existing credit agreement to allow for additional liquidity
Leggett & Platt’s Board of Directors announced a dividend of $.40 per share for the second quarter, equal to the dividend declared in the second quarter of 2019. The dividend will be paid on July 15, 2020 to shareholders of record on June 15, 2020.
A member of Standard & Poor’s Dividend Aristocrats, Leggett & Platt has increased its annual dividend for 49 consecutive years, a record that only ten S&P 500 companies currently exceed. At an annual indicated dividend of $1.60 per share, the yield is 5.9%, based upon yesterday’s closing stock price of $27.03 per share. Leggett & Platt possesses one of the highest dividend yields among the S&P 500 Dividend Aristocrats.
Annual Meeting Results
The annual meeting of Leggett & Platt shareholders was held this morning in Carthage, Missouri. Shareholders elected as directors the 11 nominees proposed by the Board; ratified the selection of PricewaterhouseCoopers as the Company’s independent registered public accountant for 2020; approved the amendments to the Company’s Flexible Stock Plan; and endorsed the compensation of the Company’s named executive officers. No other proposals were voted upon.
Credit Agreement Amendment
On May 6, 2020, the Company entered into an amendment of its existing revolving credit facility to provide additional borrowing capacity under the financial covenant and further enhance Leggett’s financial flexibility as it navigates the COVID-19 pandemic.
The financial covenant was amended from a calculation of total debt to trailing 12-months EBITDA to net debt to trailing 12-months EBITDA. The covenant requires net debt to remain below 4.75x the trailing 12-months EBITDA through March 31, 2021. The ratio will be reduced by 0.5x every quarter through December 31, 2021 until it reaches and will remain at 3.25x. In addition, there is a new requirement that the Company cannot retain more than $300 million in cash without planned expenditures.
- - - - - - - - - - - - - - - - -
FOR MORE INFORMATION: Visit Leggett’s website at www.leggett.com.


COMPANY DESCRIPTION: At Leggett & Platt (NYSE: LEG), we create innovative products that enhance people’s lives, generate exceptional returns for our shareholders, and provide sought-after jobs in communities around the world. L&P is a 137-year-old diversified manufacturer that designs and produces engineered products found in most homes and automobiles. The Company is comprised of 15 business units and 140 manufacturing facilities located in 18 countries.

Leggett & Platt is the leading U.S.-based manufacturer of: a) bedding components; b) automotive seat support and lumbar systems; c) specialty bedding foams and private-label finished mattresses; d) components for home furniture and work furniture; e) flooring underlayment; f) adjustable beds; and g) bedding industry machinery.

CONTACT: Investor Relations, (417) 358-8131 or invest@leggett.com
Susan R. McCoy, Senior Vice President, Investor Relations
Wendy M. Watson, Vice President, Investor Relations
Cassie J. Branscum, Manager, Investor Relations



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Cover Page
May 15, 2020
Apr. 03, 2020
Cover [Abstract]    
Document Type 8-K  
Document Period End Date May 15, 2020  
Entity Registrant Name LEGGETT & PLATT, INC  
Entity Incorporation, State or Country Code MO  
Entity File Number 001-07845  
Entity Tax Identification Number 44-0324630  
Entity Address, Address Line One No. 1 Leggett Road,  
Entity Address, City or Town Carthage,  
Entity Address, State or Province MO  
Entity Address, Postal Zip Code 64836  
City Area Code 417  
Local Phone Number 358-8131  
Written Communications false  
Soliciting Material false  
Pre-commencement Tender Offer false  
Pre-commencement Issuer Tender Offer false  
Title of 12(b) Security Common Stock, $.01 par value  
Trading Symbol LEG  
Security Exchange Name NYSE  
Entity Emerging Growth Company false  
Amendment Flag   false
Entity Central Index Key 0000058492  

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