By Colin Kellaher
Illinois Tool Works Inc. on Friday said its board raised the quarterly dividend by 7.4% to $1.31.
The new payout, equal to $5.24 a year, represents an annual yield of about 2.5% based on Thursday's closing price of $209.42, up from 2.33%.
The Glenview, Ill., maker of industrial products and equipment said the increased dividend is payable Oct. 14 to shareholders of record Sept. 30.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
08-05-22 1224ET