Snap-on Incorporated (NYSE: SNA) raised its quarterly dividend 12.7 percent on November 6, 2026, to $2.75 per share from $2.44. The increase extends the toolmaker’s streak to 17 consecutive annual raises, and it continues a payout record that has run without interruption or reduction since 1939.
The setup
The new dividend is payable December 10, 2026, to shareholders of record on November 20. Shares trade ex-dividend on November 19. Income investors have few longer payout histories to choose from anywhere in the S&P 500.
The board approved the raise despite a third-quarter earnings miss. Dividend trackers at 247 Wall St. note that the $0.31 step-up is the company’s largest increase on record on a per-share basis.
The pace of the raises has stayed strong. Snap-on lifted its payout 14.0 percent in 2025, so the latest action marks a second straight year of double-digit growth in shareholder income.
Key numbers
| Metric | Value |
|---|---|
| Previous quarterly dividend | $2.44 |
| New quarterly dividend | $2.75 |
| Increase | $0.31 per share, or 12.7 percent |
| Annualized dividend | $11.00 |
| Forward yield | About 3.0 percent at $366.44 |
| Payout vs trailing earnings | About 57 percent of $19.25 per share |
| Q3 dividends paid | $126 million |
| Q3 share repurchases | $87.1 million |
For a retiree holding $100,000 in SNA shares, the raise is a tangible cash event. Roughly 273 shares at recent prices generate about $3,000 in annual dividend income, up from approximately $2,660 at the old rate—an extra $340 per year per $100,000 invested.
| Per $100,000 invested | Old rate | New rate |
|---|---|---|
| Shares | 273 | 273 |
| Annual income | About $2,660 | About $3,000 |
| Income gain | — | About $340 |
Dividend safety snapshot
Snap-on generated $1.0057 billion of free cash flow in 2025. The dividend costs about $569 million a year at the new rate, leaving coverage near 1.8 times. Share repurchases add a second channel; the company bought back $87.1 million of stock in Q3 and has $431 million of authorization remaining.
Common mistakes income investors make
- Chasing the biggest yield in the industrial sector. A 3.0 percent yield with 87 years of payment history beats a fat yield with weak coverage.
- Ignoring payout growth. Seventeen straight raises compound income faster than a static payout ever will.
- Missing record dates. Buying on November 19 instead of before the open forfeits the December 10 payment.
What to watch
- Fourth-quarter results. The dividend raise followed a Q3 earnings miss, so execution matters for the next increase.
- Payout headroom. The dividend consumed about $569 million over the past year, roughly 57 percent of the $1.0057 billion in free cash flow Snap-on generated in 2025.
- Capital returns mix. Snap-on spent $87.1 million on buybacks in Q3 and has $431 million left on its authorization.
- Ex-dividend timing. Buyers need shares before the market opens on November 19 to collect the December 10 payment.
Bottom line
Consistency is Snap-on’s pitch to income investors. An 87-year payout history, a 17-year raise streak, and a 3.0 percent forward yield make a serious income case. The trade-off is growth: earnings stumbled in Q3, and the stock’s premium valuation leaves little room for further disappointment.
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