Snap-on Raised Dividend 15.5%

Good news this morning from Snap-on (SNA). The company raised its quarterly dividend by 13.5% to 82 cents per share. The dividend is payable on December 8 to shareholders of record on November 17.

“Snap-on’s dividend is an essential component of our approach to capital allocation, as demonstrated by our payment of consecutive quarterly cash dividends, without interruption or reduction, since 1939,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “This eighth consecutive annual dividend increase reflects our ongoing strong financial position and robust cash generation which enable us in returning capital to our shareholders and in continuing to strategically invest, both organically and through acquisitions, along our defined runways for growth and improvement.”

Based on Friday’s close, the new dividend yields 2.07%. That’s a little more than a five-year Treasury.

Posted by on November 6th, 2017 at 9:39 am


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