Saturday, August 8, 2020

Dividend Increase – Illinois Tool Works Inc. (ITW)

 
 


Yesterday, August 7th the Board of Directors of Illinois Tool Works Inc. announced a quarterly dividend increase of from $ 1.07 to $ 1.14 per share that’s payable October 14, 2020 to holders of record September 30, 2020. This represents a 6.54% increase over last quarterly dividend.

 

With current price $ 190.55 (yesterday's close), this raise brings their dividend yield to 2.39%.

 

 

ITW is a Dividend Champions with a 45 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 21.9, 21.0, 18.5 and 12.6. (Dividend Champions.xls)


 

 


Since I own 20 shares of ITW, this will increase my portfolio's projected annual net dividend income by $ 4.17.

 

This increase raises my YOC to 3.58%.


 

 


Summary of 2020 Dividend Increases / Cuts


 

 


As you can see, some large dividend cuts will have the effect that full-year growth will be negative. I also believe that there will come more cuts during this year.

 

Click here to see my portfolio holdings.

 

You can follow the development of my dividends here.

 

Full Disclosure: Long ITW

 

Thanks for stopping by!

 

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