ST. PAUL, Minn.--(BUSINESS WIRE)--The 3M Board of Directors (NYSE:MMM) today declared a dividend on the company’s common stock of $1.175 per share for the first quarter of 2017, an increase of 6 percent over the quarterly dividend paid in 2016. The dividend is payable March 12, 2017, to shareholders of record at the close of business on Feb. 17, 2017.
This marks the 59th consecutive year 3M has increased its dividend. The company has paid dividends to its shareholders without interruption for 100 years.
During the past decade, 3M has returned $49 billion to shareholders through a combination of dividends and gross share repurchases, or 113 percent of reported net income.
As of Dec. 31, 2016, 3M had 596,726,278 common shares outstanding and 81,672 shareholders of record.
The 3M Board of Directors also set March 14, 2017, as the record date for the determination of stockholders entitled to notice of, and to vote at, the Annual Meeting of Stockholders to be held on Tuesday, May 9, 2017.
At 3M, we apply science in collaborative ways to improve lives daily. With $30 billion in sales, our 90,000 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 @3MNewsroom.