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

August 05, 2022 12:24 ET (16:24 GMT)

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