ITW's board of directors approved a 5.56% increase in the quarterly dividend to $.38. The latest increase extends ITW's streak to 49 straight years placing it in the prestigious dividend champions category of dividend growth stocks. Not many corporations can boast longer streaks. I'm a little bit disappointed that the increase was so small this year especially considering its yield is an anemic ~2.5%(pre-announcement). The good news is that 5.56% beats inflation.
At this point in time I'm not looking to add to my ITW position. I'll hold out for a more enticing entry yield.
Hey Compounding Income,
ReplyDeleteI wanted to reach to you and see if you would be interested in joining www.thediv-net.com, which is a site that myself and a few other dividend bloggers use to post articles on dividend and value investing. I have been reading your site since early this year, and thought that you would be a good fit.
Please let me know if you are interested. If not, that's fine, I just like connecting with dividend investors anyways.
My email is the name of my website (as one word) at gmail.com.
Best Regards,
Dividend Growth Investor
Hi DGI,
DeleteI am more of a blogger than an article writer, I'm not sure my posts are the length or quality you are looking for. I will think it over for a few days and get back to you. I've read a lot of your work and it has helped me make better decisions. Thanks for the offer!
CI
I was also a bit disappointed in the size of the dividend increase from ITW, but like you said, at least it beats inflation. I'm also sitting on a 32% capital gain, so I guess I can't complain. :)
ReplyDeleteYep. In the past I thought about selling ITW around $57-58 but decided not to in the end. I think ITW is just being conservative. Maybe it will lead to another 49 years of increases, haha.
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