ITW Board of Directors Approves Dividend Rate Increase

Rhea-AI Summary

The Board of Directors of Illinois Tool Works (NYSE: ITW) has approved a 7% increase in the quarterly dividend payout, raising it by $0.08 to $1.22 per share, marking an annual rate of $4.88. This dividend will be paid on October 14, 2021, to shareholders on record as of September 30, 2021. With total revenues of $12.6 billion in 2020, ITW continues to showcase strength in its multi-industrial manufacturing sector and maintains a solid growth trajectory.

Positive

• Quarterly dividend increase of 7%, boosting shareholder income.
• Annual dividend rate now at $4.88 per share.
• Strong revenue performance at $12.6 billion for 2020.

Negative

• None.

GLENVIEW, Ill., Aug. 06, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. (NYSE: ITW) authorized a seven percent increase to the dividend payout to shareholders, representing a quarterly increase of $0.08 per share – or $0.32 per share annually – versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.22 per share for the third quarter of 2021. The dividend equates to $4.88 per share on a full-year basis. The dividend will be paid on Thursday, October 14, 2021, to shareholders of record as of September 30, 2021.

About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $12.6 billion in 2020. 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 43,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. www.itw.com

Media Relations Illinois Tool Works Tel: 224.661.7451 mediarelations@itw.com		Investor Relations Illinois Tool Works Karen Fletcher Tel: 224.661.7433 investorrelations@itw.com

FAQ

What is the new dividend amount for ITW shareholders?

The new dividend amount for ITW shareholders is $1.22 per share.

When will the ITW dividend be paid?

The ITW dividend will be paid on October 14, 2021.

What is the annual dividend rate for ITW after the increase?

The annual dividend rate for ITW after the increase is $4.88 per share.

What are the record dates for the ITW dividend?

The record date for the ITW dividend is September 30, 2021.

How much of an increase was made to the ITW dividend?

The ITW dividend was increased by $0.08 per share, or 7%.