When I was employed, and my boss gave me a raise, I always liked it and never turned it down. The same holds true for investing. Another position in our investment portfolio increased their dividend. This is not surprising. The fundamentals are good.
Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.
The company distributes its products directly to industrial manufacturers, as well as through independent distributors. Illinois Tool Works Inc. was founded in 1912 and is headquartered in Glenview, Illinois.
The Dividend Story is Solid
Many of our investments have raised their dividends thus far in 2020. The way I pick investments makes it highly unlikely that any of them will reduce or suspend their dividend. ITW fits my criteria and has done well. I will add more shares on the dips. The following pictures tell the story.
I bought my first couple of shares of ITW in my ROTH IRA in 2015. I have automatic dividend reinvestment turned on. My most recent purchase of shares was in November 2019. The total number of shares in my account is about 60.