DividendCoverage: This Diversified Machinery Company Has Paid Dividend Continuously for more than 100 Years; Will Trade Ex-Dividend on November 22, 2017

LONDON, UK / ACCESSWIRE / November 21, 2017 / Pro-Trader Daily takes a closer look at 3M Co. (NYSE: MMM) as the Company’s stock will begin trading ex-dividend on November 22, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on November 21, 2017.Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On November 14, 2017, 3M’s Board of Directors declared a dividend on the Company’s common stock of $1.175 per share for the fourth quarter of 2017, payable December 12, 2017, to shareholders of record at the close of business on November 24, 2017.

3M’s indicated dividend represents a yield of 2.05%, which is substantially above compared to the average dividend yield for the Conglomerates sector of 1.86%. 3M has paid dividends to its shareholders without interruption for more than 100 years.

Dividend Insights

3M has a dividend payout ratio of 51.8%, which indicates that the Company spends approximately $0.52 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates,3M is forecasted to report earnings of $9.63 for the next year, which is substantially above the Company’s annualized dividend of $4.70 per share.

As of September 30, 2017, 3M’s cash and cash equivalents totaled $2.83 billion compared to $2.40 billion as on December 31, 2016. For the nine months ended September 30, 2017, the Company’s net cash provided by operating activities totaled $4.38 billion compared to $4.44 billion in the year-ago same period. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for 3M

On November 15, 2017, 3M announced that Kristen Ludgate is appointed Senior Vice President, Corporate Communications and Enterprise Services, effective January 01, 2018. Kristen will replace Kimberly Price, who has announced her intention to retire, effective March 01, 2018.

Kristen joined 3M in 2008 as senior counsel, Legal Affairs. She is currently Vice President of Global Human Resources Business Operations. In this role, she is responsible for global human resources strategy and operations for 3M’s five Business Groups and staff functions. Kristen has also served as 3M’s Chief Compliance Officer, following her role as chief employment counsel supporting 3M businesses. Previous to 3M she was a business lawyer in private practice and also held multiple positions in higher education.

About 3M

3M Company operates as a diversified technology Company. With $30 billion in annual sales, the Company’s 90,000 employees connect with customers all around the world. 3M was founded in 1902 and is headquartered in St. Paul, Minnesota.

Stock Performance

3M’s share price finished yesterday’s trading session at $231.49, marginally advancing 0.93%. A total volume of 1.70 million shares have exchanged hands. The Company’s stock price soared 12.67% in the last three months, 17.07% in the past six months, and 33.84% in the previous twelve months. Additionally, the stock surged 29.64% since the start of the year. Shares of the Company have a PE ratio of 25.84 and have a dividend yield of 2.03%. The stock currently has a market cap of $137.91 billion.

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