On Friday, Stanley Works (SWK) announced a 3.3% increase in the company's quarterly dividend to 31 cents per share versus 30 cents per share in the same quarter last year. This increase represents the 40th consecutive year the company has increased its dividend on an annual basis. The estimated payout ratio based on estimated 2007 earnings of $3.99 is approximately 31%. SWK is one of Standard & Poor's dividend aristocrats and has a quality ranking of B+.
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