News Details

3M Board Declares Quarterly Dividend; Company Announces Results of Shareholder Voting

May 11, 2010

ST. PAUL, Minn.--(BUSINESS WIRE)--The Board of Directors of 3M (NYSE:MMM) today declared a dividend on the company’s common stock of 52.5 cents per share for the second quarter of 2010, payable June 12, 2010, to shareholders of record at the close of business on May 21, 2010. This cash dividend is the 375th consecutive quarterly dividend paid by 3M.

As of March 31, 2010, 3M had 713,068,068 common shares outstanding and 110,063 shareholders of record.

Shareholder Voting Results
3M shareholders today elected each of the ten nominees to the company’s Board of Directors for one-year term that expires at the 2011 Annual Meeting by the vote of the majority of votes cast:

  • 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 and retired CEO, Ingersoll-Rand plc
  • Edward M. Liddy, partner, Clayton, Dubilier & Rice, LLC
  • Robert S. Morrison, retired vice chairman, PepsiCo, Inc., and former interim chairman and CEO, 3M
  • Aulana L. Peters, retired partner, Gibson, Dunn & Crutcher LLP and former Commissioner of the Securities and Exchange Commission
  • 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 approved the amended 2008 Long-Term Incentive Plan and approved the expanded performance criteria available under the Plan.

Shareholders rejected the stockholder proposal on special meetings.

The Company will also disclose the final voting results on each item of business properly presented at the Annual Meeting in our Current Report on Form 8-K to be filed with the SEC.

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 $23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries.

Contact:

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

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