Stanley Black & Decker (SWK) will raise its quarterly dividend by 12.9 percent to 79 cents per share in 2021. This follows a dividend hike of 1.4 percent to 70 cents per share in 2020 and marks the 54th consecutive year of annual dividend increases by this Dividend Aristocrat.

The next dividend of $0.70 per share is payable on, September 21, 2021 to shareholders of record as of the close of business on September 7, 2021. A new annual rate of $3.16 per share yields 1.6% at a stock price of $204.

Stanley Black & Decker's CEO, James M. Loree, commented, "I am pleased to continue our trend of consecutive annual dividend increases, which reflects the continued confidence we have in the cash generation potential of the company.  A strong and growing dividend is a key element of our shareholder value proposition, and is consistent with our capital deployment philosophy to deliver approximately half of our excess capital to shareholders over the long term."

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 Stanley, SIDCHROME, AeroScout, DEWALT, Newell Tools, Proto and Craftsman, Irwin Tools, Lenox, Craftsman, BLACK+DECKER, SONITROL, Facom, Warren, GRIPCO, Porter-Cable, BOSTITCH, Lista and WanderGuard. The company has increased dividends every year since 1968 and the record of annual dividend payments is the longest of any industrial company listed on the New York Stock Exchange.