ITW - This Unstoppable Dividend King Just Boosted Its Payout to a Record High
2023-08-08 05:04:00 ET
You probably encounter at least one Illinois Tool Works (NYSE: ITW) product every day. But you may have never heard of the company, let alone the stock.
Commonly known as ITW, the company makes a variety of products, including fasteners, plastic and metal components, welding equipment, fluids and adhesives, cooking, refrigeration, and other food equipment systems, and more. Its diversified business spans seven segments, including automotive, construction, food equipment, polymers and fluids, specialty products (zippers, plastic rings, etc.), test and measurement electronics, and welding.
Isn't not a glamourous business. But the name of the game is to turn as much revenue into operating profit as possible. And ITW does this extremely well, which supports dividend growth and share buybacks.
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This Unstoppable Dividend King Just Boosted Its Payout to a Record High