Stanley Black & Decker raises dividend for 53rd year
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| SWK is a Dividend Aristocrat © dividendtrackrecords.com |
Stanley Black & Decker (SWK) will raise its quarterly dividend by 1.4 percent to $0.70 per share. This marks the 53rd consecutive annual dividend increase for the company.
The dividend is payable on Tuesday, September 15, 2020 to shareholders of record as of the close of business on Tuesday, September 1, 2020. The dividend yield for SWK is 1.9% at a stock price of $146.
Stanley Black & Decker's President and CEO, James M. Loree, commented, "A strong and growing dividend is consistent with our capital deployment philosophy to deliver approximately half of our excess capital to shareholders over the long term, reflects our strong financial position and is a key element of our shareholder value proposition."
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Last year Stanley Black & Decker hiked its dividend by 4.5 percent to 69 cents per share quarterly. The 2020 dividend increase is the smallest since 2008, when SWK raised the dividend by just 1.5 percent. The two biggest dividend increases were announced in 2011 and 2012, when Stanley Black & Decker increased the dividend by 20.6 percent (2011) and 19.5 percent (2012). The company pays approximately $430 million in dividends to shareholders annually.
Stanley Black & Decker is a global provider of hand tools, power tools and related accessories, electronic security solutions, healthcare solutions and engineered fastening systems. Its brands include SIDCHROME, AeroScout, DEWALT, Newell Tools and Craftsman, Irwin, Lenox, Craftsman, BLACK+DECKER, SONITROL, Warren, GRIPCO, Porter-Cable, BOSTITCH and WanderGuard. The company is a Dividend Aristocrat.
