ITW Board Approves 10 Percent Dividend Increase; Dividend Boosted to $1.36 Per Share on an Annual Basis
GLENVIEW, Ill., Aug. 6 /PRNewswire-FirstCall/ -- The board of directors of Illinois Tool Works Inc. (NYSE: ITW) today declared a regular quarterly cash dividend of 34 cents per share or $1.36 per share on an annual basis. As a result of the Company's strong free operating cash flow, the quarterly increase of 3 cents per share—12 cents per share annually—represents a 10 percent increase over the current dividend rate.
The newly-increased dividend will be paid on Wednesday, October 13, 2010 to stockholders of record on Thursday, September 30, 2010.
With $13.9 billion in 2009 revenues, ITW is a multi-national manufacturer of a diversified range of value-adding and short-lead time industrial products and equipment. The Company consists of nearly 800 business units in 57 countries and employs approximately 59,000 people.
SOURCE Illinois Tool Works Inc.
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