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The American conglomerate Illinois Tool Works Inc. (ISIN: US4523081093, NYSE: ITW) will pay a quarterly dividend of $ 1.07 per share to its investors for the second quarter of 2020. Payment will be made on July 15, 2020 (Record day is June 30, 2020). Averaged over the year, $ 4.28 will be distributed.
Illinois Tool Works is one of the dividend aristocrats. These are companies that have been increasing their dividends every year for at least 25 years. The dividend yield of the company with a focus on machine tool construction is 2.66 percent at the current exchange rate of $ 161.01 (as of May 8, 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. In the first quarter of fiscal 2020, operating sales were $ 3.23 billion (previous year: $ 3.55 billion), as reported on May 5. Net income was $ 566 million (previous year: $ 597 million).
Since the beginning of 2020, the share on Wall Street has been down 10.37 percent on the current price basis. Market capitalization is currently $ 51.1 billion (as of May 8, 2020).