Illinois Tool Works raises dividend for 46th consecutive year

Illinois Tool Works (ITW) will increase its dividend by 20 percent.

Dividend Aristocrat Illinois Tool Works will increase its quarterly dividend to $0.78 per share, marking 46 consecutive years of higher dividend payments.

The dividend equates to $3.12 per share on a full-year basis. The dividend will be paid on Oct. 10, 2017 to shareholders of record as of Sept. 29, 2017.

Based on the current stock price of $142.92 the new dividend yield for ITW is 2.2%. The stock has gained 16.7 percent so far in 2017, translating into a market cap of $48.9 billion for the industrial company.

Illinois Tool Works dividend aristocrat
Illinois Tool Works trades close to its June 20th all time high of  $150.29 (click for bigger chart)
Brokerages overwhelmingly recommend ITW: 9 out of 17 analysts rate it “buy” or higher, 8 “hold” and 0 “sell”. The average analyst price target currently is $152.70 (upside of 6.4%).

Illinois Tool Works Inc. is a manufacturer of industrial products and equipment. ITW is a Fortune 200 global multi-industrial manufacturing company with revenues totaling $13.6 billion in 2016. The Company operates through seven segments: Automotive OEM, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products and Specialty Products.

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