It’s official. 3M cut its dividend significantly. The materials company declared a dividend of 70 cents per share on Tuesday evening. That’s down from the prior quarter’s dividend of $1.51.

However, as a result of the spinoff, 3M said it will reset its dividend payout ratio to approximately 40% of adjusted free cash flow. This will result in a cut to its shareholder payout.

ST. PAUL, Minn., Nov. 5, 2024 /PRNewswire/ -- The 3M Board of Directors (NYSE:MMM) today declared a dividend on the company's common stock of $0.70 per share for the fourth quarter of 2024.

But here's the thing: this dividend cut didn't come out of nowhere. 3M just finished spinning off its healthcare business, Solventum (SOLV), on April 1. And get this - that healthcare arm was ...

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions ...

I sold my shares in 3M because it cut its dividend earlier this year. I'm using some of the proceeds to buy Whirlpool. The iconic appliance maker offers a high-yielding dividend backed by an ...

3M had been one of the most reliable dividend stocks around. Its more than a half-century history of dividend increases had it in the elite group of Dividend Kings. However, a series of issues ...

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions ...

The Chairman of the Board of the company, Kofi Brako, announced this at the Fourth Annual General Meeting (AGM) of the ...