Surpassing Expectations: 3M Unleashes Growth Potential and Rewards Investors
At the end of today, March 12, 2024, 3M (NYSE:MMM) will distribute a dividend payout of $1.51 per share, translating to an annualized dividend yield of 6.51%. Shareholders who held the stock before the ex-dividend date on February 15, 2024 will benefit from this payout.
3M Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2024-02-15 | 4 | $1.51 | 6.51% | 2024-02-06 | 2024-02-16 | 2024-03-12 |
| 2023-11-16 | 4 | $1.5 | 6.42% | 2023-11-07 | 2023-11-17 | 2023-12-12 |
| 2023-08-18 | 4 | $1.5 | 5.77% | 2023-08-11 | 2023-08-21 | 2023-09-12 |
| 2023-05-18 | 4 | $1.5 | 5.86% | 2023-05-09 | 2023-05-19 | 2023-06-12 |
| 2023-02-16 | 4 | $1.5 | 5.15% | 2023-02-07 | 2023-02-17 | 2023-03-12 |
| 2022-11-17 | 4 | $1.49 | 4.78% | 2022-11-08 | 2022-11-18 | 2022-12-12 |
| 2022-08-19 | 4 | $1.49 | 3.98% | 2022-08-12 | 2022-08-22 | 2022-09-12 |
| 2022-05-19 | 4 | $1.49 | 3.91% | 2022-05-10 | 2022-05-20 | 2022-06-12 |
| 2022-02-17 | 4 | $1.49 | 3.7% | 2022-02-08 | 2022-02-18 | 2022-03-12 |
| 2021-11-18 | 4 | $1.48 | 3.26% | 2021-11-09 | 2021-11-19 | 2021-12-12 |
| 2021-08-20 | 4 | $1.48 | 2.94% | 2021-08-13 | 2021-08-23 | 2021-09-12 |
| 2021-05-20 | 4 | $1.48 | 2.86% | 2021-05-11 | 2021-05-21 | 2021-06-12 |
When comparing 3M's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer Icahn Enterprises (NASDAQ:IEP) having the highest annualized dividend yield at 22.98%.
Analyzing 3M Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
The company demonstrated a positive dividend growth pattern from 2020 to 2023, with the dividend per share rising from $5.88 to $6.00. This signifies the company's commitment to consistently increasing shareholder dividends.
YoY Earnings Growth For 3M
The earnings chart above shows that from 2020 to 2023, 3M has experienced an increase in their earnings from $8.52 per share to $9.10 per share. This positive earnings trend is promising for income-seeking investors as it suggests that the company has more potential to increase its cash dividend payout if the trend continues.
Recap
In this article, we delve into 3M's recent dividend payout and examine how it impacts shareholders. The company has announced a dividend distribution of $1.51 per share today, resulting in an annualized dividend yield of 6.51%.
When comparing 3M's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer Icahn Enterprises having the highest annualized dividend yield at 22.98%.
The increase in both dividend per share and earnings per share from 2020 to 2023 for 3M indicates a positive financial trend, suggesting their capacity to continue distributing profits to shareholders.
Keeping a close watch on the company's performance in the coming quarters will enable investors to stay abreast of any modifications in financials or dividend disbursements.
\To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.