St. Paul, Minnesota, USA, 11 February 2008 --(BUSINESS WIRE)-- The board of directors of 3M (NYSE:MMM) today declared a dividend on the company’s common stock of 50 cents per share for the first quarter 2008, a 4.2% increase over the quarterly dividend paid in 2007.
The dividend is payable on 12 March 2008, to shareholders of record at the close of business on 22 February 2008. This marks the company’s 366th consecutive quarterly dividend and the 50th consecutive year of 3M dividend increases.
“As we continue to invest in securing 3M’s future as a faster-growing and more efficient enterprise, we are committed to providing our shareholders with attractive returns,” said George W. Buckley, 3M chairman, president, and CEO.
Over the past five years, the company has returned USD 16.6 billion to shareholders through dividends and share repurchases, USD 4.6 billion of which was in 2007.
As of 31 December 2007, 3M had 709,156,031 common shares outstanding and 122,204 shareholders of record.
The 3M board of directors also set 14 March 2008, as the record date for the determination of stockholders entitled to notice of, and to vote at, the annual meeting of stockholders to be held on 13 May 2008.
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With USD 24 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 60 countries. For more information, visit www.3M.com.