On 2 August, Illinois Tool Works (ITW) increased its quarterly dividend by 7.14%, from $1.40 to $1.50 per share.
The dividend will be paid on 11 October to shareholders of record on 30 September. The ex-dividend date is 30 September.
ITW's contribution to DivGro's projected annual dividend income will increase by $34.00 to $510.
I own 85 shares of ITW at an average cost basis of $220.82 per share. Following this increase, my yield on cost is 2.72%. (ITW's forward yield is 2.51% at $239.21 per share).
Since I opened my ITW position in December 2022, the stock has produced total returns of 13%, including $810.05 in dividend income.
5-Year History of Dividend Payouts by Ex-Date
| 2019 | 2020 | 2021 | 2022 | 2023 | • | 2024 |
| $4.14 | $4.42 | $4.72 | $5.06 | $5.42 | ⬆ | $5.80✝ |
| 16.29% | 6.76% | 6.79% | 7.20% | 7.11% | ⬇ | 7.01% |
| 5-year DGR: | 8.77% | ⬇ | 6.98% | |||
✝projected, assuming no further changes
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