3M Maintains Quarterly Dividend at $0.635

Diversified conglomerate has paid a dividend every year for nearly four decades.

By Rich Duprey – May 15, 2013 at 12:36PM EST

Conglomerate 3M(MMM +2.60%) will pay a second-quarter dividend of $0.635 per share, the same rate it paid last quarter after it increased it 7.6% from $0.59 per share, the company announced yesterday.

The board of directors said the quarterly dividend is payable on June 12 to the holders of record at the close of business on May 24. 3M has paid a dividend quarterly every year since 1977.

The regular dividend payment equates to a $2.54-per-share annual dividend yielding 2.3% based on the closing price of 3M's stock on May 14.

MMM Dividend data by YCharts.

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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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3M Maintains Quarterly Dividend at $0.635

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