ITW Board Approves 11 Percent Dividend Increase; Dividend Boosted to $1.24 Per Share on an Annual Basis

GLENVIEW, Ill., Aug. 8 /PRNewswire-FirstCall/ -- The board of directors of Illinois Tool Works Inc. (NYSE: ITW) today declared a regular quarterly cash dividend of 31 cents per share or $1.24 per share on an annual basis. This quarterly increase of 3 cents per share -- 12 cents per share annually -- represents an 11 percent increase over the current dividend rate. The enhanced dividend also represents a payout of 34 percent of the prior two years net income from continuing operations.

The newly-increased dividend will be paid on Tuesday, October 14, 2008 to stockholders of record on Tuesday, September 30, 2008.

With $16.2 billion in revenues, ITW is a multinational manufacturer of a diversified range of value-added industrial products and equipment. The Company consists of approximately 825 business units in 52 countries and employs some 60,000 people.

SOURCE Illinois Tool Works Inc.