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.

Equities research analysts expect that 3M will post 7.28 earnings per share for the current year. The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th.

Analysts expect that 3M will post 7.28 EPS for the current year. The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday ...

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 ...

M reported better-than-expected Q3 results, raised FY24 guidance, and saw an increase in sales and adjusted EPS. Shareholders ...

This year, some notable companies have cut or eliminated their dividends. For example, former stalwarts Walgreens and 3M ended decades-long streaks of dividend growth with deep cuts to their payouts.

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

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 ...