Illinois Tool Works authorizes $6 billion stock buyback

Illinois Tool Works Inc. (ITW) has announced that its Board of Directors authorized a new program to repurchase up to $6 billion of the company's common stock.

Additionally, the Board approved a seven percent increase in the company's regular annual cash dividend. This raises the dividend from $6.44 to $6.88 per share. The increase is set to take effect with the fourth-quarter dividend of $1.72 per share, which is payable on October 9, 2026, to shareholders of record as of September 30, 2026.