3M (NYSE:MMM) Declares Dividend for 374th Straight Quarter and 52nd Straight Year
Tuesday, February 9th, 2010
For the 52nd year in a row, 3M (NYSE:MMM) declared a dividend on its common stock, this year raising it to 52.5 cents a share, an increase of 3 percent. It's also the 374th straight quarterly dividend offered by the company.
Shareholders of record as of close of business on February 19 will receive a dividend payment on March 12, 2010.
"We are pleased to raise our dividend again this year -- marking 3M's 52nd consecutive year of dividend increases," said George W. Buckley, 3M chairman, CEO and president in a press release. "Our long record of increases reflects 3M's ongoing commitment to return significant cash to shareholders in any economic condition while maintaining our investments in future growth platforms."
Also on March 12, 2010, the Board of Directors at 3M set that as the record date to determine which stockholders will be contacted and allowed to vote on May 11, 2010 at the Annual Meeting of Stockholders.
The 3M company generates about $23 billion in sales and has about 75,000 people working for them around the world.
Article by Gary B
The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com
Tags: 3m , business , dividend
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