3M Board Declares Quarterly Dividend (2024)

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3M Board Declares Quarterly Dividend? ›

3M News Center

This is the total amount of dividends paid out to shareholders in a year. 3M Company's ( MMM ) ex-dividend date is August 26, 2024 , which means that buyers purchasing shares on or after that date will not be eligible to receive the next dividend payment. 3M Company ( MMM ) pays dividends on a quarterly basis.

It's official. 3M cut its dividend significantly. The materials company declared a dividend of 70 cents per share on Tuesday evening. That's down from the prior quarter's dividend of $1.51.

Dividends are the percentage of a company's earnings that is paid to its shareholders as their share of the profits. Dividends are generally paid quarterly, with the amount decided by the board of directors based on the company's most recent earnings. Dividends may be paid in cash or additional shares.

ST. PAUL, Minn., Aug. 16, 2024 /PRNewswire/ -- The 3M Board of Directors (NYSE:MMM) today declared a dividend on the company's common stock of $0.70 per share for the third quarter of 2024. The dividend is payable September 12, 2024, to shareholders of record at the close of business on August 26, 2024.

The ex-dividend date for stocks is usually set as the record date or one business day before if the record date is not a business day. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend.

For over a century, this industrial giant has been a reliable source of dividends - and 3M boasts an impressive 64-year streak of annual increases.

Nearly two years after 3M announced plans to spin off its health care business, the new Solventum Corp. officially launched Monday and started trading on the New York Stock Exchange.

3M's sales growth has been tepid in recent years due to supply chain disruptions, high inflation, a strengthening dollar, and slowing economic growth. 3M's consumer business has also been facing headwinds lately, amid lower automotive aftermarket, home improvement, auto-care, and packaging sales.

Is 3M stock a Buy, Sell or Hold? 3M stock has received a consensus rating of hold. The average rating score is A3 and is based on 13 buy ratings, 35 hold ratings, and 25 sell ratings.

Is 3M a good long-term investment? ›

The best buy-and-hold stocks have business models that consistently make money in nearly any environment, typically over long stretches of time. This consistency is the reason you can invest for the long term with minimal worry. In that regard, 3M is still very much the ideal buy-and-hold stock.

3M (MMM 0.72%) has faced challenges in recent years -- and not just in the legal realm where it faced a number of lawsuits. The industrial conglomerate also has a track record of mediocre growth and margin erosion, which doesn't position it as a high-quality stock pick.

Yields from 2% to 6% are generally considered to be a good dividend yield, but there are plenty of factors to consider when deciding if a stock's yield makes it a good investment. Your own investment goals should also play a big role in deciding what a good dividend yield is for you.

Monthly dividends provide investors with regular income, offering more frequent payouts than quarterly dividends. However, they can increase administrative costs for companies and result in smaller, less impactful individual payments for shareholders.

In the world of finance, understanding the terms 'dividend', 'cum dividend', and 'ex dividend' is crucial. When an investor purchases shares that are cum dividend, they have the right to receive an already-declared upcoming dividend. On the other hand, ex dividend means that the investor will not receive the dividend.

Some bonds have coupons that go ex-dividend, meaning that the bond holder will only receive the next coupon if they held the bond before the ex-dividend date. The ex-dividend period is the difference between the ex-dividend date and the coupon pay date, and is specified by a number of calendar or business days.

2) MODIGLIANI AND MILLER (MM) HYPOTHESIS:

Modigliani and Miller maintain that dividend policy has no effect on the share price of the firm and is, therefore, of no consequence. They argue that the value of the firm depends on firm earnings which results from its investment policy.