A dividend increase of 3M Company
Last week MMM announced a 5.9% increase in its quarterly dividend.The dividend is raised from $1.36 to $1.44. The dividend pay date is March 12, 2019 to shareholders of record on February 15, 2019 (ex dividend February 14, 2019).
Mike Roman, 3M chief executive officer:
“The strength of our business model enables 3M to consistently generate premium margins and strong cash flow, and to build on the company’s long history of returning cash to our shareholders.“
The new dividend amount represents an annualized dividend amount of $5.76 per share, up from $5.44. The dividend yield on current price is 2.87%.
My Vrijheid Fonds consist of 15 shares of MMM, so my annual dividends will increase by €3.60 ($4.08) after taxes.
My projected annual (2019) total amount from my shares of MMM will be €64.79 ($73.44) after taxes.
DGI at work! I love it!