02.04.16
The 3M Board of Directors declared a dividend on the company’s common stock of $1.11 per share for the first quarter of 2016, an 8% increase over the quarterly dividend paid in 2015. The dividend is payable March 12, 2016, to shareholders of record at the close of business on Feb. 12, 2016. 3M has paid dividends to its shareholders without interruption for more than 99 years.
The board also authorized the repurchase of up to $10 billion of 3M’s outstanding common stock, replacing the company’s existing repurchase program. The authorization has no pre-established closing date.
“Investing in our business remains priority one, while at the same time our strong and consistent cash generation also allows 3M to return significant cash to shareholders,’’ said Inge G. Thulin, 3M chairman, president and CEO.
The board also authorized the repurchase of up to $10 billion of 3M’s outstanding common stock, replacing the company’s existing repurchase program. The authorization has no pre-established closing date.
“Investing in our business remains priority one, while at the same time our strong and consistent cash generation also allows 3M to return significant cash to shareholders,’’ said Inge G. Thulin, 3M chairman, president and CEO.