3M Company (NYSE:MMM) Announces Quarterly Dividend of $0.78

3M Company (NYSE:MMM) announced a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, May 22nd will be paid a dividend of 0.78 per share by the conglomerate on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, May 22nd.

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. Equities research analysts expect 3M to earn $9.35 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 33.4%.

3M Stock Up 3.2%

Shares of MMM traded up $4.55 during mid-day trading on Wednesday, reaching $147.76. The company had a trading volume of 3,221,465 shares, compared to its average volume of 3,990,237. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59. The firm has a 50-day moving average price of $148.24 and a 200 day moving average price of $159.36. 3M has a 52 week low of $139.34 and a 52 week high of $177.41. The company has a market capitalization of $77.07 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.07 and a beta of 1.03.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. 3M had a return on equity of 104.75% and a net margin of 11.14%.The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the previous year, the firm posted $1.88 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. On average, sell-side analysts forecast that 3M will post 8.7 EPS for the current year.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).