Leggett & Platt (LEG) just unveiled an update.
Facing continued weak demand in residential markets, the company’s Board has decided to cut the quarterly dividend to $0.05 per share, a significant drop from the previous year. This strategic move aims to strengthen the balance sheet by reducing debt and improving the financial stance in the short term. For future growth, the company plans to invest in business expansion and acquisitions, while still rewarding shareholders through a mix of dividends and share repurchases. However, they caution that these forward-looking statements carry risks and uncertainties that could materially affect actual results.
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