3M increases dividend for 62nd consecutive year

Dividend Aristocrat 3M (MMM) will raise its dividend for the 62nd straight year with a relative small increase of 2.1 percent in 2020.

The industrial company will increase its quarterly dividend to $1.47 per share in the first quarter of 2020. Last year 3M raised its dividend by 5.9 percent.

From today's press release: The 3M Board of Directors (NYSE:MMM) today declared a dividend on the company’s common stock of $1.47 per share for the first quarter of 2020, an increase of 2 percent over the quarterly dividend paid in 2019. The dividend is payable March 12, 2020, to shareholders of record at the close of business on Feb. 14, 2020.

This marks the 62nd consecutive year 3M has increased its dividend. The company has paid dividends to its shareholders without interruption for over 100 years.

During the past decade, 3M has returned $57 billion to shareholders through a combination of dividends and gross share repurchases, or 121 percent of reported net income.

Today, more than 60,000 3M products are used in homes, businesses, schools, hospitals and other industries. One third of the company's sales come from products invented within the past five years, thanks to innovations from the thousands of researchers and scientists 3M employs around the world.

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