5 High Yield Dividend Kings for 2022

3. Leggett & Platt, Incorporated (NYSE:LEG)

Dividend Yield as of January 21: 4.30%

Number of Years of Dividend Increases: 50

Number of Hedge Fund Holders: 16

Leggett & Platt, Incorporated (NYSE:LEG) is a company manufacturing bedding products, furniture, flooring, and textile products. Leggett & Platt, Incorporated (NYSE:LEG) supplies its products to big box and e-commerce retailers, bedding brands, department stores, and home improvement centers.

On November 9, Leggett & Platt, Incorporated (NYSE:LEG) declared a $0.42 per share quarterly dividend, which is a 5% increase from its prior dividend of $0.40. The dividend was paid on January 14, to shareholders of record on December 15. Leggett & Platt, Incorporated (NYSE:LEG) delivers a dividend yield of 4.30% as of January 21. 

In its third quarter earnings report, published by Leggett & Platt, Incorporated (NYSE:LEG) on November 1, the company posted earnings per share of $0.71, missing estimates by $0.06. Revenue over the period jumped 9.24% year-over-year to $1.32 billion, outperforming estimates by $3.02 million. 

According to Insider Monkey’s Q3 database, 16 hedge funds were long Leggett & Platt, Incorporated (NYSE:LEG), with stakes totaling $56.1 million. Balyasny Asset Management is the largest stakeholder of Leggett & Platt, Incorporated (NYSE:LEG), owning 229,919 shares worth $10.3 million.