3M Company (MMM) to Distribute Quarterly Dividend of $0.78 on December 11th

3M Company (NYSE:MMM) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 13th will be given a dividend of $0.78 per share by the conglomerate on Friday, December 11th. This represents a $3.12 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, November 13th.

3M has decreased its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. 3M has a payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect 3M to earn $9.82 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 31.8%.

3M Stock Up 9.6%

Shares of NYSE:MMM opened at $194.03 on Thursday. The stock has a market cap of $100.26 billion, a P/E ratio of 28.92, a P/E/G ratio of 2.31 and a beta of 1.01. The firm has a fifty day moving average price of $168.68 and a 200 day moving average price of $161.55. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.41 and a quick ratio of 1.06. 3M has a 1-year low of $139.34 and a 1-year high of $194.77.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 20th. The conglomerate reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.12. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. 3M had a net margin of 14.01% and a return on equity of 123.11%. 3M’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.19 earnings per share. Sell-side analysts predict that 3M will post 9.14 EPS for the current year.

3M announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 4th that authorizes the company to repurchase $6 billion in shares. This buyback authorization authorizes the conglomerate to buy up to 6.6% of its shares through open market purchases. Share buyback programs are usually a sign that the company’s management believes its shares are undervalued.

3M Company Profile

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.