Snap-On (SNA) Raises Quarterly Dividend 16.4% to $0.71; 1.9% Yield

November 3, 2016 6:11 PM EDT

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Snap-On (NYSE: SNA) declared a quarterly dividend of $0.71 per share, or $2.84 annualized. This is a 16.4% increase from the prior dividend of $0.61.

The dividend will be payable on December 9, 2016, to stockholders of record on November 18, 2016, with an ex-dividend date of November 16, 2016.

The annual yield on the dividend is 1.9 percent.

“This seventh consecutive annual dividend increase reinforces our commitment to create long-term value for our shareholders and our belief that Snap-on is well-positioned for the future. At the same time, it underscores both the continued progress along our defined runways for coherent growth and the ongoing improvements authored by our Snap-on Value Creation processes,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “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.

For a dividend history and other dividend-related data on Snap-On (SNA) click here.

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