Dividend Aristocrat ITW hikes dividend by 7% in 2022

ITW 2022 dividend hike

Dividend Aristocrat Illinois Tool Works (ITW) will increase its dividend by 7 percent to $1.31 per share quarterly in 2022. 

The Board of Directors of Illinois Tool Works Inc. (ticker symbol 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. The next ex-dividend date for ITW is September 29, 2022.

Illinois Tool Works will increase its quarterly dividend to $1.31 per share, marking more than 50 consecutive years of higher dividend payments by the Dividend Aristocrat. The funny thing is that ITW does not mention its actual track record compared to other Aristocrats. At a stock price of $213 the estimated dividend yield for ITW is 2.5%.

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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