3M Cut Its Dividend: It's Time to Buy the Stock [Yahoo! Finance]
Illinois Tool Works Inc. (ITW)
Last illinois tool works inc. earnings: 1/31 08:00 am
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Source: Yahoo! Finance
Sure, some income-focused investors will inevitably be disappointed, but it's the right thing to do for the company's development and to help remove uncertainty around the stock. In addition, some other positives surfaced in the earnings report that make the stock an attractive buy. Here's what you need to know. 3M cuts its dividend Management hasn't given a figure for the new dividend, but it will be declared in May. However, we do know it will be "approximately 40% of adjusted free cash flow," according to Executive Chairman (and former CEO) Mike Roman on the earnings call. If we assume free cash flow (FCF) per share of $7.05 based on earnings guidance for 2024 (which excludes the now-spun-off healthcare business, Solventum ), we arrive at a dividend per share of $2.82 for 2024. This implies a dividend yield of 2.85% at the current price. I've discussed why 3M's decision to cut the dividend makes sense, and the same arguments apply now. 3M has significant multi-year paymen
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News
- Illinois Tool Works Inc. (NYSE:ITW) is a favorite amongst institutional investors who own 82% [Yahoo! Finance]Yahoo! Finance
- Reasons to Retain Illinois Tool (ITW) Stock in Your Portfolio [Yahoo! Finance]Yahoo! Finance
- Illinois Tool Works (NYSE:ITW) shareholders have earned a 13% CAGR over the last five years [Yahoo! Finance]Yahoo! Finance
- ITW Board of Directors Declares Quarterly DividendGlobeNewswire
- Global Microwave Oven Market Forecasted to Reach US$ 15.52 Billion by 2032, Driven by Increasing Consumer Penchant for Convenience and Efficiency [Yahoo! Finance]Yahoo! Finance
ITW
Earnings
- 4/30/24 - Beat
ITW
Sec Filings
- 5/17/24 - Form 8-A12B
- 5/17/24 - Form 8-K
- 5/16/24 - Form 424B5
- ITW's page on the SEC website