Topic: How To Invest

Dividend Advisor Hotline – Friday, November 18, 2016

Article Excerpt

SNAP-ON INC., $167.77, New York symbol SNA, makes tools for auto mechanics and sells them through a fleet of franchised vans that visit garages. It also makes specialized tools for mining companies, electrical power plants and other industrial customers. With the December 2016 payment, the company will increase its quarterly dividend by 16.4%, to $0.71 a share from $0.61. The new annual rate of $2.84 yields 1.7%. Snap-On has paid quarterly dividends continuously since 1939. Management continues to promise shareholders long-term dividend growth. The company’s revenue rose 1.5% in the quarter ended October 1, 2016, to $834.1 million from $821.5 million a year earlier. Excluding acquisitions and the negative impact of currency rates, revenue gained 2.6%. Earnings in the quarter increased 12.8%, to $131.7 million from $116.8 million. Due to more shares outstanding, earnings per-share rose 12.1%, to $2.22 from $1.98 a year earlier. Snap-On’s higher earnings were mainly due to the success of its ongoing plan to improve efficiency. As of October 1, 2016,…