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

Key Points

• 3M declared a quarterly dividend of $0.78 per share, payable December 11 to shareholders of record November 13. The annualized dividend is $3.12, a 1.8% yield.
• The dividend appears well covered: 3M’s payout ratio is 37.3%, and analysts expect next year’s earnings to imply a 31.8% payout ratio.
• In its latest quarter, 3M reported EPS of $2.50, beating the $2.38 analyst consensus, while revenue of $6.60 billion came in just below estimates and rose 1.5% year over year.

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

3M has decreased its dividend by an average of 0.1% per year over the last three years and has increased 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 Performance

Shares of 3M stock opened at $177.07 on Wednesday. The firm has a market cap of $91.50 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.32 and a beta of 1.01. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 3.01. 3M has a 52 week low of $139.34 and a 52 week high of $184.90. The business's fifty day simple moving average is $168.40 and its 200-day simple moving average is $161.43.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.38 by $0.12. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. 3M had a return on equity of 123.11% and a net margin of 14.01%. The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $2.19 EPS. Equities analysts forecast that 3M will post 9.14 earnings per share for the current year.

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.

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