Illinois Tool Works (ITW) will raise its quarterly dividend by 9.7 percent to $0.34 per share in 2010. This is the company’s first dividend increase since 2008, when the dividend was raised by 3 cents to $0.31 per share quarterly.
The increased dividend is payable on October 13, 2010 to shareholders of record at the close of business on September 30, 2010. The ex-date for his next dividend of 36 cents per share is September 28, 2010.
Illinois Tool Works Inc. is a manufacturer of industrial products and equipment. Its products include fasteners, components, equipment, consumable systems, and a variety of specialty products and equipment. The Company operates through seven segments: Automotive OEM, Food Equipment, Test & Measurement and Electronics, Welding, Polymers & Fluids, Construction Products and Specialty Products.