Quarterly Dividend Increases to $1.86 per Share
Snap-on Incorporated (NYSE:SNA) announced that its Board of Directors has declared a quarterly common stock dividend of $1.86 per share payable December 11, 2023, to shareholders of record at the close of business on November 21, 2023. This represents an increase of $0.24 per share, or 14.8%, over Snap-on’s previous quarterly dividend of $1.62 per share.
“For 84 years, since 1939, Snap-on has paid consecutive quarterly cash dividends, without interruption or reduction. Snap-on’s dividend is an essential component of our approach to capital allocation, and it testifies to the continuing resilience and strength of our operations, even during times of turbulence,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “This 14th consecutive annual increase in our dividend confirms our commitment to create long-term value for our shareholders and demonstrates our firm belief that Snap-on is well-positioned for the future. Our strong financial position and robust cash generation enable us to reward our shareholders with a consistently increasing cash dividend and to support our ongoing strategic investments, organically and through acquisitions, along our defined runways for both growth and improvement.”
