3M Company (NYSE:MMM) Shares Will Pay Quarterly Dividend of $0.78

by · The Markets Daily

3M Company (NYSE:MMM – Get Free Report) announced a quarterly dividend on Tuesday, November 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, November 13th.

3M has decreased its dividend payment by an average of 0.1% per year 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.7%

MMM opened at $177.07 on Wednesday. The firm’s 50 day moving average is $168.40 and its 200-day moving average is $161.43. 3M has a 52-week low of $139.34 and a 52-week high of $184.90. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $91.50 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.32 and a beta of 1.01.

3M (NYSE:MMM – Get Free Report) last announced its earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.12. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. 3M had a net margin of 14.01% and a return on equity of 123.11%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.19 earnings per share. Analysts expect that 3M will post 9.14 EPS for the current fiscal year.

About 3M

(Get Free Report)

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.

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