ITW Board of Directors Approves Dividend Rate Increase

Rhea-AI Summary

Illinois Tool Works (ITW) announced a quarterly cash dividend increase of $0.07 per share, totaling $0.28 annually. The Board also declared a third-quarter dividend of $1.14 per share, amounting to $4.56 per share for the full year. This dividend will be paid on October 14, 2020, to shareholders of record by September 30, 2020.

ITW reported revenues of $14.1 billion in 2019, showcasing its position as a global leader in multi-industrial manufacturing with a robust business model and a decentralized culture, employing around 45,000 employees worldwide.

Positive

• Quarterly cash dividend increased by $0.07 per share.
• Declared a third-quarter dividend of $1.14 per share.

Negative

• None.

GLENVIEW, Ill., Aug. 07, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. (NYSE: ITW) authorized an increase to the quarterly cash dividend to shareholders of $0.07 per share – or $0.28 per share annually. The Board also declared a dividend on the company's common stock of $1.14 per share for the third quarter of 2020. The dividend equates to $4.56 per share on a full-year basis. The dividend will be paid on Wednesday, October 14, 2020, to shareholders of record as of September 30, 2020.

About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $14.1 billion in 2019. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW’s approximately 45,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. www.itw.com

Media Contact                                                   
Illinois Tool Works                                           
Trisha Knych                                                      
Tel: 224.661.7566                                             
mediarelations@itw.com                                     

Investor Relations
Illinois Tool Works
Karen Fletcher
Tel: 224.661.7433
investorrelations@itw.com

FAQ

What is the new quarterly dividend amount for ITW?

The new quarterly dividend for ITW is $1.14 per share.

When will ITW pay its dividend?

ITW will pay its dividend on October 14, 2020.

What is the annual dividend yield for ITW?

The annual dividend yield for ITW is $4.56 per share.

Who is eligible for the ITW dividend payment?

Shareholders of record as of September 30, 2020, will be eligible for the ITW dividend payment.