Snap-on Incorporated (SNA) will raise its quarterly dividend to $0.44 per share. This increase of $0.06 per quarter translates into a dividend yield of 1.7% at the current stock price of $104.50. Snap-on's stock trades near its all time high. The dividend is now increased for 4 consecutive years by SNA.

The increased dividend of 44 cents per share will be paid on December 10, 2013 to shareholders of record on November 22, 2013.

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products and support its franchise business. Snap-on’s largest geographic markets include the United States, Europe, Canada and Asia/Pacific and its products and services are sold through the company’s franchisee, company-direct, distributor and internet channels. Snap-on was founded in 1920 and is headquartered in Kenosha, Wisconsin. The company has paid quarterly cash dividends without interruption or reduction since 1939.