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Snap-on raising dividend about 16 percent

KENOSHA, Wis. (AP) -- Snap-on is increasing its quarterly dividend about 16 percent to 44 cents per share from 38 cents per share.

The tool and diagnostic equipment maker said Friday that the dividend will be paid on Dec. 10 to shareholders of record on Nov. 22.

Snap-on Inc. is based in Kenosha, Wis.