ITW Board of Directors Approves Dividend Rate Increase

GLENVIEW, Ill., Aug. 07, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. ITW authorized an increase to the quarterly cash dividend to shareholders of $0.07 per share – or $0.28 per share annually. The Board also declared a dividend on the company's common stock of $1.14 per share for the third quarter of 2020. The dividend equates to $4.56 per share on a full-year basis. The dividend will be paid on Wednesday, October 14, 2020, to shareholders of record as of September 30, 2020.

About Illinois Tool Works
ITW ITW is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $14.1 billion in 2019. The company's seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW's approximately 45,000 dedicated colleagues around the world thrive in the company's decentralized and entrepreneurial culture. www.itw.com

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Illinois Tool Works                                           
Trisha Knych                                                      
Tel: 224.661.7566                                             
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Investor Relations
Illinois Tool Works
Karen Fletcher
Tel: 224.661.7433
investorrelations@itw.com