ITW Board of Directors Approves Dividend Rate Increase | News and Events | Aircraft Pushbutton Switches | Electronic Components Manufacturer | ITW Lumex Switch
ITW Lumex Switch ITW Board of Directors Approves Dividend Rate Increase. Aircraft Pushbutton Switches | Electronic Components Manufacturer | ITW Lumex Switch. ITW EBA has over 50 years of experience in switches, fasteners, dampers, connectors, and IC package solutions. Well-known product brands include ITW Lumex Switch (Push Button Switches, Touch Switches, Micro Switches), ITW ERG Components (DIL Switches), ITW Fastex, and ITW ECPS. The coordination of our corporation's resources with the skill and ingenuity of our engineers provides customers with ITW advantages.
ITW Board of Directors Approves Dividend Rate Increase
GLENVIEW, Ill., Aug. 04, 2023 (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 $0.09 per share – or $0.36 per share annually – versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.40 per share for the third quarter of 2023. The dividend equates to $5.60 per share on a full-year basis. The dividend will be paid on October 12, 2023 to shareholders of record as of September 29, 2023.
The Board also approved a new share repurchase program that authorizes management to purchase up to $5 billion of the Company’s common stock over an open-ended period of time. The full authorization represents approximately 20 million shares based on ITW’s closing share price on August 3, 2023. The Company’s existing share repurchase authorization of $3 billion was announced in May 2021 and has approximately $740 million remaining in that program as of June 30, 2023.
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Located in Taiwan since 1970, ITW Electronic Business Asia Co., Ltd. has been a pushbutton switches electronics manufacturer. Their main electronic components include, push button switches, micro switches, push pins, rivets, clips, latches, fan fasteners, cpu, heat sink retaining component cpu and special screws, which have 19,000 granted and pending patents.
ITW EBA has over 50 years of experience in switches, fasteners, dampers, connectors, and IC package solutions. Well-known product brands include ITW Lumex Switch (Push Button Switches, Touch Switches, Micro Switches), ITW ERG Components (DIL Switches), ITW Fastex, and ITW ECPS. The coordination of our corporation's resources with the skill and ingenuity of our engineers provides customers with ITW advantages. ITW Lumex Switch is a premier fastener manufacturer and developer, with vast resources and knowledge in material and process technologies, offering a wide range of products for a variety of applications and industries.
ITW Lumex Switch's electronic components are suitable for the automotive, appliance, instrument, medical, construction, and IT industries, both with advanced technology and 50 years of experience, ITW Lumex Switch always makes sure to meet each customer's demands.