A dividend increase by the 3M Company in 2020.
On February 4th MMM announced a 2.08% increase in its quarterly dividend. The dividend is raised from $1.44 to $1.47. The dividend pay date is March 12, 2020 to shareholders of record on February 14, 2020 (ex-dividend February 13, 2019). This marks the 62nd consecutive year 3M has increased its dividend. The company has paid dividends to its shareholders without interruption for over 100 years.
“3M continues to transform how it operates and build a more customer-driven and streamlined organization for the future. he latest phase of our transformation journey is designed to improve growth and operational efficiency and will enable us to create even more value for our customers and shareholders. This is a defining moment in how we run our company, and positions 3M for success in the years ahead.”
The new dividend amount represents an annualized dividend amount of $5.88 per share, up from $5.76. The dividend yield on current price is 3.67%.
My Vrijheid Fonds consist of 37 shares of MMM, so my annual dividends will increase by €3.43 ($3.77) after taxes.
My projected annual (2020) total amount from my shares of MMM will be €166.82 ($183.54) after taxes. DGI at work! I love it!