If You Want to Collect Rising Dividends, Read This
Most people have never heard of Illinois Tool Works Inc.
(NYSE:ITW), but the company offers one of the safest growing income streams.
Illinois Tool Works is a multi-industrial manufacturer.
Headquartered in Glenview, Illinois, the company has been around for over a
century.
Today, ITW operates through seven business segments:
“Automotive OEM,” “Test & Measurement Electronics,” “Food Equipment,”
“Polymers & Fluids, Welding,” “Construction Products,” and “Specialty
Products.”
As a manufacturer of industrial products and equipment,
Illinois Tool Works does not make headlines very often. What it does, though,
is raise its dividends like clockwork.
Consider this: Illinois Tool Works has increased its payout
to shareholders in each of the last 52 years. That makes ITW stock a “dividend
king,” which is a title only awarded to companies with at least five decades of
consecutive annual dividend hikes. To put it in perspective, there are
thousands of companies trading on U.S. stock exchanges. Among them, only 25 are
known as dividend kings.
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