Tool maker Snap-on increases dividend by 16%


Snap-on Inc. 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%.

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