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. That's why Dividend Kings are so special and have so much respect among dividend growth investors. These companies have raised their dividends annually for at least 50 years straight.
The veteran manufacturer Leggett & Platt (NYSE: LEG) is a lesser-known stock that qualified as a Dividend King until just recently. But it didn't lose the title for not raising its dividend this year. Instead, it dropped off the list on a technicality. Only S&P 500 index stocks qualify for the designation and Leggett & Platt got bumped out of the S&P 500 in December.
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For further details see:
This Unofficial Dividend King Is a Great Stock for Income Investors