ITW Board of Directors Declares Quarterly Dividend

GLENVIEW, Ill., Oct. 28, 2016 -- The Board of Directors of Illinois Tool Works Inc. (NYSE:ITW) declared a dividend on the company's common stock of $0.65 per share for the fourth quarter of 2016. The dividend equates to $2.60 per share on a full-year basis. The dividend will be paid on Jan. 11, 2017 to shareholders of record as of Dec. 30, 2016.

ITW (NYSE:ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $13.4 billion in 2015. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW has more than 51,000 dedicated colleagues in operations around the world who thrive in the company’s unique decentralized and entrepreneurial culture. To learn more about the company and the ITW Business Model, visit www.itw.com.

Investors Contact: Mike Drazin 224.661.7433 [email protected]

Media Contact: Mallory Ramp 224.661.7431 [email protected]