Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

3M Raises Dividend, Announces Stock Repurchase

3M (NYSE: MMM  ) announced a dividend increase today.The company has declared a $0.635-per-share payout on its common stock, representing an increase of 8% on the former amount. The disbursement will be made on March 12 to shareholders of record as of the end of Feb. 15.

The company pointed out in the news release announcing the move that it "marks the company's 55th consecutive year of 3M dividend increases, and its 96th year of continuous dividend payments."

At an annualized rate, the new payout equates to a yield of 2.5% on the current stock price.

The company's board has also authorized the repurchase of up to $7.5 billion worth of stock. This replaces the company's existing buyback program, and it has no closing date.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2237763, ~/Articles/ArticleHandler.aspx, 3/29/2015 6:40:23 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...