GlobeNewswire Inc | Aug 6, 2021 01:52PM EDT

August 06, 2021

GLENVIEW, Ill., Aug. 06, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. (NYSE: ITW) authorized a seven percent increase to the dividend payout to shareholders, representing a quarterly increase of $0.08 per share or $0.32 per share annually versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.22 per share for the third quarter of 2021. The dividend equates to $4.88 per share on a full-year basis. The dividend will be paid on Thursday, October 14, 2021, to shareholders of record as of September 30, 2021.

About Illinois Tool WorksITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $12.6 billion in 2020. The companys seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITWs approximately 43,000 dedicated colleagues around the world thrive in the companys decentralized and entrepreneurial culture. www.itw.com

Media Relations Investor RelationsIllinois Tool Works Illinois Tool WorksTel: 224.661.7451 Karen Fletchermediarelations@itw.com Tel: 224.661.7433 investorrelations@itw.com