Over the past week six income stocks announced plans to reward shareholders with increased dividends. I highlighted the ones that have managed to boost distributions for at least five consecutive years. I tried to further screen each company, using my entry criteria. In addition, a brief commentary behind each company is included.
Illinois Tool Works Inc. (ITW) manufactures various industrial products and equipment worldwide. The company raised its quarterly distributions by 5.60% to 38 cents/share. This marked the 49th consecutive annual dividend increase for this dividend champion. Yield: 2.70% (analysis)