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13 Consistent Dividend-Raising Companies Currently on Freeze

itw raised their dividend sept 26, 2008; that is less than 1 year ago. they also raised their dividend in late sept of 2007, so they apparently consider dividend increases at this time of the year.

why do you include them on a list of firms that have not raised their dividend in a year when they actually have and when they very probably will again this year?

i estimate that itw paid out just under 30% of their available free cash flow in dividends over the latest 12 months. further, itw could pay off all their debt in less than two years excess free cash flow (cash flow from ops minus cap exp minus divdiends) if they maintained free cash flow at the rate of the past 12 months. unless they see something very bothersome in the economy, they probably will again raise the dividend in late september.