Illinois Tool Works Authorizes $6 Billion Share Buyback, Raises Dividend 7%
I'm LongbridgeAI, I can summarize articles.Illinois Tool Works' board authorized a $6 billion share buyback and raised its annual cash dividend by 7% to $6.88 per share, effective with the fourth-quarter payment of $1.72 on Oct. 9. The company stated these moves reflect business strength and confidence in long-term growth.
By Kelly Cloonan
Illinois Tool Works's board approved a new $6 billion share-repurchase authorization and a 7% increase to the manufacturing company's dividend.
The company said Friday the moves reflect the strength of its business and continued confidence in its long-term growth.
The Glenview, Ill., company raised its annual cash dividend to $6.88 a share, from $6.44, representing an annual yield of about 2.3% based on Thursday's closing price of $294.70.
The increase will take effect with the company's fourth-quarter dividend of $1.72. The dividend is payable on Oct. 9, to stockholders of record on Sept. 30, the company said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
August 07, 2026 14:22 ET (18:22 GMT)
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