GlobeNewswire Inc | Aug 7, 2020 11:58AM EDT

August 07, 2020

GLENVIEW, Ill., Aug. 07, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. (NYSE: ITW) authorized an increase to the quarterly cash dividend to shareholders of $0.07 per share or $0.28 per share annually. The Board also declared a dividend on the company's common stock of $1.14 per share for the third quarter of 2020. The dividend equates to $4.56 per share on a full-year basis. The dividend will be paid on Wednesday, October 14, 2020, to shareholders of record as of September 30, 2020.

About Illinois Tool WorksITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $14.1 billion in 2019. 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 45,000 dedicated colleagues around the world thrive in the companys decentralized and entrepreneurial culture. www.itw.com

Media Contact Illinois Tool Works Trisha Knych Tel: 224.661.7566 mediarelations@itw.com

Investor RelationsIllinois Tool WorksKaren FletcherTel: 224.661.7433investorrelations@itw.com