3M Co. (MMM) Raises Quarterly Dividend 7.3% to $0.59; 2.7% Yield

3M Co. (NYSE: MMM) declared a quarterly dividend of $0.59 per share, or $2.36 annualized. This is a 7.3% increase from the prior dividend of $0.55.

The dividend will be payable on March 12, 2012, to stockholders of record on February 17, 2012, with an ex-dividend date of February 15, 2012.

The annual yield on the dividend is 2.7 percent.

“This increase reflects the company’s solid financial performance and our confidence in our future,” said George W. Buckley, 3M chairman, president and CEO. “Our strong cash generation and the strength of our business model allow us to continue investing in future growth opportunities while also returning significant cash to shareholders.”

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

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