GLENVIEW, Ill., Aug. 07, 2026 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE:ITW) today announced that its Board of Directors has approved a seven percent increase in the company’s regular annual cash dividend from $6.44 to $6.88 per share. The increase is effective with the fourth-quarter dividend of $1.72, which was declared today, and is payable on October 9, 2026, to holders of record at the close of business on September 30, 2026.

In addition, ITW announced that its Board of Directors has approved a new authorization for the company to repurchase up to $6 billion of its common stock as part of its disciplined capital allocation strategy. The timing and volume of any share repurchases will be determined by management at its discretion.

"Our 63rd consecutive annual dividend increase and new $6 billion share repurchase authorization reflect the strength of the ITW Business Model and our continued confidence in the company’s long-term growth and free cash flow generation," said Christopher A. O’Herlihy, President and Chief Executive Officer. "Returning capital to our shareholders remains a core element of our disciplined capital allocation framework."

About ITW:

Founded in 1912, Illinois Tool Works Inc. (NYSE:ITW) is a Fortune 300 global multi-industry manufacturing leader with revenue of $16 billion in 2025. The company’s 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. ITW’s approximately 43,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. To learn more, please visit www.itw.com.

Investor Relations & Media Contact:

Erin Linnihan

Tel: 224.661.7431

investorrelations@itw.com | mediarelations@itw.com