ITW Increases Dividend 7% to $6.88/Share; Authorizes $6B Buyback

Illinois Tool Works (ITW) announced a 7% increase in its annual cash dividend, raising it from $6.44 to $6.88 per share, marking its 63rd consecutive annual dividend increase. The company's Board of Directors also approved a new authorization to repurchase up to $6 billion of its common stock. CEO Christopher A. O’Herlihy stated that these actions reflect the strength of the ITW Business Model and confidence in long-term growth and free cash flow generation, emphasizing capital return to shareholders.