Quarterly Dividend Increases to $0.95 per Share
Snap-on Incorporated (NYSE: SNA) announced that its Board of Directors has declared a quarterly common stock dividend of $0.95 per share payable December 10, 2018 to shareholders of record on November 20, 2018. This represents an increase of $0.13 per share, or 15.9%, over Snap-on’s previous quarterly dividend of $0.82 per share.
“This ninth consecutive annual dividend increase reflects our strong financial position and cash generation which enables us to both return capital to our shareholders and continue to strategically invest along our defined runways for growth and improvement,” 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.”