Tool maker Snap-on increases dividend by 16%

MarketPulse


Snap-on Inc.

SNA, +0.39%

said late Thursday its board of directors has declared a quarterly dividend of 95 cents a share, payable Dec. 10 to shareholders of record Nov. 20. That’s an increase of 13 cents a share, or 15.9%, over Snap-on’s previous quarterly dividend of 82 cents a share. “Snap-on’s dividend is a core component of our capital allocation strategy, as demonstrated by our payment of consecutive quarterly cash dividends, without interruption or reduction, since 1939,” Chief Executive Nick Pinchuk said in a statement. Shares of Snap-on were flat in the extended session and ended the regular trading day up 0.4%.

Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.

Leave a Reply

Your email address will not be published. Required fields are marked *