3M Board Declares Quarterly Dividend and Authorizes Stock Contribution to Pension Plan; Company Announces Results of Shareholder Voting

May 12, 2009

ST. PAUL, Minn.--(BUSINESS WIRE)--The Board of Directors of 3M (NYSE:MMM) today declared a dividend on the company’s common stock of 51 cents per share for the second quarter of 2009, payable June 12, 2009, to shareholders of record at the close of business on May 22, 2009. This cash dividend is the 371st consecutive quarterly dividend paid by 3M.

As of March 31, 2009, 3M had 694,383,904 common shares outstanding and 115,905 shareholders of record.

The Board of Directors also authorized the contribution of up to $600 million in 3M common stock to the company’s U.S. defined benefit pension plan. The company expects to complete these contributions in 2009.

Shareholder Voting Results

3M shareholders today elected the following ten directors to the company’s Board of Directors for one-year terms expiring in 2010:

  • Linda G. Alvarado, president and CEO, Alvarado Construction, Inc.
  • George W. Buckley, chairman, president and CEO, 3M
  • Vance D. Coffman, retired chairman and CEO, Lockheed Martin Corp.
  • Michael L. Eskew, retired chairman and CEO, United Parcel Service, Inc.
  • W. James Farrell, retired chairman and CEO, Illinois Tool Works, Inc.
  • Herbert L. Henkel, chairman, president and CEO, Ingersoll-Rand Company Ltd.
  • Edward M. Liddy, chairman and CEO, American International Group, Inc.
  • Robert S. Morrison, retired vice chairman, PepsiCo, Inc. and former interim chairman and CEO, 3M
  • Aulana L. Peters, retired partner, Gibson, Dunn & Crutcher LLP
  • Robert J. Ulrich, retired chairman and CEO, Target Corp.

Shareholders ratified the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered public accounting firm.

Shareholders rejected the stockholder proposals on special meetings and on the vesting of stock options and awards.

About 3M

A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $25 billion in sales, 3M employs 76,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.

Contact:

3M
Media Contact:
Jacqueline L. Berry, 651-733-3611
or
Investor Contacts:
Matt Ginter, 651-733-8206
or
Bruce Jermeland, 651-733-1807

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