Snap-on Incorporated announced that its board of directors increased the quarterly common stock dividend by 15.1% to $2.14 per share, up from the previous $1.86 per share. This increase of $0.28 per share marks the company's 15th consecutive annual dividend hike.
The increased dividend is payable on December 10, 2024, to shareholders of record at the close of business on November 21, 2024. Snap-on has maintained a consistent record of paying quarterly cash dividends without interruption or reduction since 1939.
Chairman and CEO Nick Pinchuk stated that this dividend increase confirms the company's steadfast commitment to creating long-term value for shareholders and demonstrates confidence in its future prospects. He highlighted Snap-on's exceptional financial position, robust cash generation, and significant operating progress as factors enabling this increase while supporting strategic investments.
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