KENOSHA, Wis., November 8, 2013 -- Snap-on Incorporated (NYSE: SNA) today announced that its Board of Directors has declared a quarterly common stock dividend of $0.44 per share payable December 10, 2013, to shareholders of record on November 22, 2013. This represents an increase of $0.06 per share, or 15.8%, over Snap-on's previous quarterly cash dividend of $0.38 per share.
“Snap-on’s dividend is an essential component of our approach to capital allocation, as demonstrated by our payment of consecutive quarterly cash dividends, without interruption or reduction, since 1939,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “This increase reflects both the continued progress along our defined runways for coherent growth and the ongoing improvements authored by our Snap-on Value Creation processes. It also underscores our commitment to create long-term value for our shareholders and our belief that Snap-on is well-positioned for the future.”
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