ITW Board of Directors Approves Dividend Rate Increase

Rhea-AI Summary

Illinois Tool Works (NYSE: ITW) announced a 7% increase in its dividend payout, raising it by $0.09 per share, to $1.31 for Q3 2022. This translates to an annual dividend of $5.24 per share. The new dividend will be paid on October 14, 2022, to shareholders recorded by September 30, 2022. The company reported $14.5 billion in revenues for 2021 and continues to excel across its seven industry-leading segments, focusing on innovative solutions and strong margins.

Positive

• 7% increase in dividend payout, enhancing shareholder income.
• Quarterly dividend raised to $1.31 per share, reflecting company confidence.

Negative

• None.

GLENVIEW, Ill., Aug. 05, 2022 (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 $0.09 per share – or $0.36 per share annually – versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.31 per share for the third quarter of 2022. The dividend equates to $5.24 per share on a full-year basis. The dividend will be paid on October 14, 2022 to shareholders of record as of September 30, 2022.

About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $14.5 billion in 2021. 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	Investor Relations
Tel: 224.661.7451	Karen Fletcher
mediarelations@itw.com	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 $1.31 per share for Q3 2022.

When will the ITW dividend be paid?

The ITW dividend will be paid on October 14, 2022.

What was the previous dividend amount before the increase?

The previous dividend amount was $1.22 per share before the increase.

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

The annual dividend amount for ITW after the increase is $5.24 per share.