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.