ST. PAUL, Minn.--(BUSINESS WIRE)--
The 3M Board of Directors (NYSE:MMM) today declared a dividend on the
company’s common stock of $1.36 per share for the fourth quarter of
2018. The dividend is payable Dec. 12, 2018, to shareholders of record
at the close of business on Nov. 23, 2018.
The board also authorized the repurchase of up to $10 billion of 3M’s
outstanding common stock, replacing the company’s existing repurchase
program. The authorization has no pre-established closing date.
“The strength of 3M’s business model – which includes strong cash
generation – enables us to consistently deploy capital in a way that
creates the greatest value for our customers and shareholders,” said
Mike Roman, 3M chief executive officer. “Our first priority remains
investing in our business, and we will also continue to return
significant cash to our shareholders.”
3M has paid dividends to its shareholders without interruption for more
than 100 years. Earlier this year, 3M marked 60 consecutive years of
dividend increases.
As of Sept. 30, 2018, 3M had 582,287,135 common shares outstanding and
76,693 shareholders of record.
About 3M
At 3M, we apply science in collaborative ways to
improve lives daily. With $32 billion in sales, our 91,000 employees
connect with customers all around the world. Learn more about 3M’s
creative solutions to the world’s problems at www.3M.com
or on Twitter @3M or @3MNews.
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3M
Investor Contacts:
Bruce Jermeland, 651-733-1807
or
Tony
Riter, 651-733-1141
Media Contact:
Lori Anderson, 651-733-0831
Source: 3M