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Tickers in this Article: LEG, TEG, SVU
One of the casualties of last fall's market panic was dividends. Countless businesses were forced to either slash their dividends significantly or abolish them altogether in the wake of the global financial crisis that gathered steam through 2008. And yet some firms fared the crisis relatively well.

For a number, including those we've highlighted below, the current recession was no reason to take any action whatsoever with respect to dividends. On the contrary, some took whatever drastic action was necessary to maintain and even increase their shareholders' annual distribution. Here are three long-term dividend payers whose shares still look 'cheap' from a number of angles.

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A Leg Up on the Competition
Leggett & Platt Inc. (NYSE:LEG) is a 108-year-old company that manufactures a broad range of products for the automotive, industrial materials and consumer and commercial furnishings and fixture markets. The company has increased its annual dividend every year for 37 straight years, offering investors more than 14% compound yearly growth over that period. The current dividend yield on the stock is 5.7%.

Leggett stock is up more than 70% since bottoming just five months ago. Price-to-sales is 0.80, and the shares trade at 1.67x the breakup value of the company. Leggett & Platt is a globally positioned manufacturer, with 160 plants operating across 18 countries.

One of the World's Best
Integrys Energy Group (NYSE:TEG) is an electric and natural gas utility operating in the northern United States and central Canada with a record of paying dividends that spans 69 years. What's more remarkable is the company has raised its dividend every year for the last 51 years. In the entire investment universe there exist only a handful of firms that can boast such a record.

Since March of this year, TEG stock has appreciated over 70%, yet it still offers shareholders a hefty annual yield of 8%. Moreover, two of the most important value metrics also point to a fundamentally sound price on the shares: the price-to-book ratio is 0.92, and price-to-sales only 0.20. Integrys's strategic decision to divest itself of its non-regulated subsidiary likely contributed to the move in the shares. Integrys was recently named by Fortune Magazine "The World's Most Admired Energy Company."

Super Dividends
SuperValu Inc. (NYSE:SVU) stock trades with a very respectable 4.6% annual dividend yield and is now priced 75% higher than 52-week lows struck in March. Remarkably, the dividend on this national grocery retail chain has been paid for over 70 years, with increases occurring annually for the last 35 years. SVU's price-to-sales is a miniscule 0.07 and price-to-book is 1.19.

The Wrap
Dividend cuts might have been a popular theme for the past six months, but not everyone succumbed. The above three names demonstrate that there's plenty of security and value available from a few old time players who've proven their mettle in the dividend-paying world for decades. (To learn more, see Dividend Facts You May Not Know.)

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