Post-It Maker 3M Boosts Dividend, Approves Up To $7.5B Stock Buyback

3M Company MMM has declared a dividend of $0.73 per share for the first quarter of 2025, set to be distributed on March 12, 2025.

Shareholders on record by the close of business on February 14, 2025, will be eligible to receive the dividend.

The dividend is a 4.3% increase from the dividend of $0.70 announced in the fourth quarter of FY24.

Also, 3M revealed approval to buy back as much as $7.5 billion of its outstanding shares. This new authorization replaces the previous repurchase program and will remain active until the company opts to end it.

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The timing of share buybacks will be influenced by market conditions and other pertinent factors.

As of the end of December 2024, the company had a total of 539.47 million common shares in circulation, with 57,056 shareholders of record.

Recently, the company reported fourth-quarter net sales of $6.01 billion, a slight increase of 0.13% year-over-year. Adjusted EPS was $1.68, down 2% Y/Y, beating the consensus of $1.66.

On Monday, the company said it is joining the US-JOINT Consortium, a partnership of 12 semiconductor suppliers to drive research and development in next-generation semiconductor advanced packaging and back-end processing technologies.

Price Action: MMM shares are trading higher by 0.24% at $152.05 in premarket at the last check Wednesday.

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