Illinois Tool Works Inc. Declares Quarterly Dividend, Payable on October 14, 2022
August 05, 2022 at 11:57 am EDT
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The Board of Directors of Illinois Tool Works Inc. authorized a seven percent increase to the dividend payout to shareholders, representing a quarterly increase of $0.09 per share or $0.36 per share annually versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.31 per share for the third quarter of 2022. The dividend equates to $5.24 per share on a full-year basis.
The dividend will be paid on October 14, 2022 to shareholders of record as of September 30, 2022.
Illinois Tool Works Inc. is a diversified industrial group organized around 7 families of products:
- automotive equipment (18.6% of net sales). Besides, the group proposes products for maintenance and refurbishment (coatings, sealants, shutters, etc.);
- electronic equipment (17.7%): primarily equipment of microelectronic assembly. The group also provides test and measurement equipment and software;
- equipment for industrial kitchens (15.3%): cookers, dishwasher, ovens, refrigerators, cupboards, systems of aeration, etc.;
- construction systems and materials (13.3%): powder and gas nailing, perforators and consumables (fuses, chisels, pads, plugs, etc.) intended for applications on wood, steel and concrete;
- polymers, coatings, resins, adhesives and lubricants (11.9%);
- metallurgical equipment (11.9%): arc welding equipment, blowtorches, welding accessories, etc.
- specialty products (11.3%): industrial packaging systems and materials, products coding and marking equipment, etc.
Net sales are distributed geographically as follows: the United States (47.8%), North America (6.9%), Europe/Middle East/Africa (24.6%), Asia/Pacific (18.7%) and South America (2%).