3M Co. (MMM) Declares $1.36 Quarterly Dividend and Approves $10B Buyback

3M Co. (NYSE: MMM) declared a quarterly dividend of $1.36 per share, or $5.44 annualized.

The dividend will be payable on December 12, 2018, to stockholders of record on November 23, 2018, with an ex-dividend date of November 21, 2018.

The annual yield on the dividend is 2.7 percent.

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.”

For a dividend history and other dividend-related data on 3M Co. (MMM) click here.

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