Illinois Tool Works (ITW) will raise its quarterly dividend by 13.4 percent to $0.55 per share in 2015. This follows a dividend hike of 6.5 cents per share to 48.5 cents quarterly last year.
The increased dividend will be paid on October 6, 2015 to shareholders of record as of September 30, 2015. The ex-date for this next dividend of 55 cents is September 28, 2015.
A new full year dividend of $2.20 per share translates into an indicated dividend yield of 2.5% for the industrial company.
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.