Friday, August 2, 2013
Dividend Increase: ITW
Illinois Tool Works (ITW) is increasing its quarterly dividend by 10.5%, from $0.38 to $0.42 per share, putting the company on track for its 39th consecutive year of dividend growth (news release). Given that I own 40 shares of ITW, my quarterly dividend increases from $15.20 to $16.80 and my yield on cost becomes 3.93%. The extra $6.40 in annual dividend income raises my forward 12-month dividend total to $2,514. Thus far this year, there have been dividend increases for 21 of the 28 stocks in my portfolio.