8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report: January 26, 2011 (Date of earliest event reported)
Woodward, Inc. (Exact name of registrant as specified in its charter)
DE (State or other jurisdiction of incorporation)	000-8408 (Commission File Number)	36-1984010 (IRS Employer Identification Number)
1000 East Drake Road, Fort Collins, Colorado (Address of principal executive offices)		80525 (Zip Code)
970-482-5811 (Registrant's telephone number, including area code)
Not Applicable (Former Name or Former Address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events

On January 26, 2011, the Board of Directors of Woodward, Inc. approved a quarterly cash dividend increase from $0.06 per share to $0.07 per share, payable on March 1, 2011 to stockholders of record as of February 16, 2011.

Item 9.01. Financial Statements and Exhibits

(a) Financial statements:
            None
(b) Pro forma financial information:
            None
(c) Shell company transactions:
            None
(d) Exhibits
            99.1       Press Release of Woodward, Inc. dated January 26, 2011

SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 26, 2011
WOODWARD, INC. By:  /s/ A. Christopher Fawzy                    
     A. Christopher Fawzy
     Corporate Vice President, General Counsel, Corporate Secretary & Chief Compliance Officer

Exhibit Index
Exhibit No.	Description
99.1	Press Release of Woodward, Inc. dated January 26, 2011

EX-99

Woodward Increases Dividend 17 Percent to $0.07 per Share

FORT COLLINS, CO -- (Marketwire - January 26, 2011) - Woodward, Inc. (NASDAQ: WGOV) announced that its Board of Directors approved a 17 percent dividend increase from $0.06 per share to $0.07 per share, payable on March 1, 2011 to stockholders of record as of February 16, 2011.

"We are confident in Woodward's ability to consistently deliver strong cash flows through all phases of the economic cycle, allowing for continued investment in our strategic initiatives as well as funding this dividend increase," said Tom Gendron, Chairman and CEO.

About Woodward

Woodward is an independent designer, manufacturer, and service provider of energy control and optimization solutions used in global infrastructure equipment. We serve the aerospace and defense, power generation and distribution, and transportation markets. Our systems and components optimize the performance of commercial aircraft; military aircraft, ground vehicles and other equipment; gas and steam turbines; wind turbines; reciprocating engines; and electrical power systems. The company's innovative fluid energy, combustion control, electrical energy, and motion control systems help customers offer cleaner, more reliable, and more efficient equipment. Our customers include leading original equipment manufacturers and end users of their products. Woodward is headquartered in Fort Collins, Colo., USA. Visit our website at www.woodward.com.

The statements in this release concerning the company's future sales, earnings, business performance, prospects, and the economy in general reflect current expectations and are forward-looking statements that involve risks and uncertainties. Such forward-looking statements include but are not limited to Woodward's confidence in its ability to consistently deliver strong cash flows through all phases of the economic cycle, allowing for continued investment in the company's strategic initiatives as well as funding the announced dividend increase. Actual results could differ materially from projections or any other forward-looking statement and we have no obligation to update our forward-looking statements. Factors that could affect performance and could cause actual results to differ materially from projections and forward-looking statements are described in Woodward's Annual Report and Form 10-K for the year ended September 30, 2010 and any subsequently filed Form 10-Q.

CONTACT:
Mike Schablaske
Corporate Director, Investor Relations, Tax and Assistant Treasurer
815-639-6697