Itw board of directors approves dividend rate increase

Glenview, ill., aug. 04, 2023 (globe newswire) -- the board of directors of illinois tool works inc. (nyse: itw) 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 $1.40 per share for the third quarter of 2023. the dividend equates to $5.60 per share on a full-year basis. the dividend will be paid on october 12, 2023 to shareholders of record as of september 29, 2023.
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