Stanley Black & Decker announces 1.3% dividend hike for 2023

Dividend Aristocrat Stanley Black & Decker (SWK) will hike its dividend by 1.3% to 81 cents quarterly per share. This marks 56 consecutive years of dividend growth for the tools maker.

The dividend is payable on Tuesday, September 19, 2023, to shareholders of record as of the close of business on Tuesday, September 5, 2023. The dividend yield for SWK is 3.3% at a stock price of $99.

Dividend Aristocrat Stanley Black & Decker hiked its dividend by 1.3% to $0.81 quarterly per share. This matches the 2022 increase and marks 56 consecutive years of dividend growth by $SWK #dividends pic.twitter.com/kQ9wEkYepb

— dividend hike (@dividendhike) July 29, 2023

Stanley Black & Decker's President and CEO, Donald Allan, Jr., commented, "We are pleased to announce this dividend increase as our long-standing commitment to rewarding shareholders through growing cash dividends is a key element of our overall shareholder value proposition. This increase also demonstrates our confidence in the Company's transformation focused on accelerating long-term organic growth and margin expansion as well as generating significant free cash flow to enhance shareholder return."

Headquartered in the USA, Stanley Black & Decker (SWK) is a worldwide leader in tools and outdoor operating manufacturing facilities worldwide. Guided by its purpose – for those who make the world – the company's more than 50,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world's makers, creators, tradespeople and builders. The company's iconic brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®.