Benzinga | Aug 6, 2021 03:52PM EDT

Illinois Tool Works Raises Dividend By 7%

* Illinois Tool Works Inc. (NYSE:ITW) has increased its dividend by 7%, representing a quarterly increase of $0.08 per share -- or $0.32 per share annually.

* The dividend equates to $4.88 per share on a full-year basis.

* The company also declared a Q3 dividend of $1.22 per share, payable on October 14, 2021, to shareholders of record as of September 30, 2021.

* Price Action: ITW shares are trading higher by 0.28% at $227.60 on the last check Friday.