Friday, August 1st the Board of Directors of Illinois Tool Works Inc. (ITW) announced a quarterly dividend increase of from $1.50 to $1.61 per share, that’s payable October 10, 2025 to holders of record September 30, 2025. This represents a 7.33% increase over the last quarterly dividend.
At the current price of $256.89 (yesterday's close), this increase will raise ITW's dividend yield to 2.51%.
Illinois Tool Works is a Dividend Champions with a 50 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.9, 7.1, 7.0 and 12.6 (Dividend Champions.xls)
As an owner of 20 shares of ITW, the recent dividend increase adds $6.56 to my projected annual net dividend income.
I had anticipated an increase of around 7%, so the announced raise was right in line with my expectations.
This marks the eight dividend increase I’ve received from Illinois Tool Works since initiating my position in August 2018. Since then, the quarterly dividend has risen steadily from $0.78 to $1.61 per share—an overall increase of 106%.
As of this writing, ITW represents approximately 0.61% of my portfolio by weight and contributes around 0.37% to my projected annual dividend income.
Following this increase, my yield on cost is 4.98%.
Summary of 2025 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long ITW
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