ITW Board of Directors Declares Quarterly Dividend

Rhea-AI Summary

Illinois Tool Works (NYSE: ITW) has announced its quarterly dividend declaration for Q4 2024. The Board of Directors approved a dividend of $1.50 per share, equivalent to an annual dividend of $6.00 per share. The dividend will be distributed on January 10, 2025, to shareholders recorded as of December 31, 2024.

Positive

• Maintained quarterly dividend of $1.50 per share
• Annualized dividend of $6.00 per share demonstrates strong shareholder returns

Negative

• None.

Insights

Financial Analyst

ITW's quarterly dividend announcement of $1.50 per share maintains their consistent capital return policy. The annualized dividend of $6.00 represents a yield of approximately 2.2% based on current share prices. This continuation of their dividend policy demonstrates ITW's strong cash flow generation and commitment to shareholder returns. The industrial conglomerate has maintained a remarkable track record of dividend growth, having increased dividends for over 50 consecutive years, earning them the prestigious Dividend King status. The company's diversified business model across multiple industrial segments and robust free cash flow conversion continue to support their dividend sustainability.

GLENVIEW, Ill., Oct. 24, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. (NYSE: ITW) declared a dividend on the company's common stock of $1.50 per share for the fourth quarter of 2024. The dividend equates to $6.00 per share on a full-year basis. The dividend will be paid on January 10, 2025 to shareholders of record as of December 31, 2024.

About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 300 global multi-industry manufacturing leader with revenue of $16.1 billion in 2023. 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                                                                                                        

Investor Relations & Media Contact:                                                         
Erin Linnihan
Tel: 224.661.7431
investorrelations@itw.com | mediarelations@itw.com             

FAQ

What is ITW's dividend amount for Q4 2024?

ITW's dividend for Q4 2024 is $1.50 per share.

When will ITW pay its Q4 2024 dividend?

ITW will pay its Q4 2024 dividend on January 10, 2025.

What is the record date for ITW's Q4 2024 dividend?

The record date for ITW's Q4 2024 dividend is December 31, 2024.

What is ITW's annual dividend rate for 2024?

ITW's annual dividend rate is $6.00 per share for 2024.