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The American conglomerate Illinois Tool Works Inc. (ISIN: US4523081093, NYSE: ITW) will raise its quarterly dividend by 6.5 percent to 1.14 US dollars. This means that the group is paying out an estimated US $ 4.56 to investors for the year. The dividend yield of the company, which specializes in machine tool construction, is 2.39 percent at the current stock market price of 190.55 US dollars (as of August 7, 2020).
Illinois Tool Works is a dividend aristocrat. These are companies that have raised their dividends every year for at least 25 years. The next distribution will be made on October 14, 2020 (record day: September 30, 2020).
The company was founded in 1912 by Byron L. Smith as a manufacturer of metal cutting tools. Today the group employs around 45,000 people worldwide. The company’s headquarters are in Glenview near Chicago in the US state of Illinois. Revenue for the second quarter (June 30) of fiscal 2020 was $ 2.56 billion (Q2 2013: $ 3.61 billion), as reported on July 31.
Since the beginning of the year, the stock on Wall Street is up 6.08 percent and the current market capitalization is 60.2 billion US dollars (as of August 7, 2020).
Saskia Haaker, Redaktion MyDividends.de
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