Dividend Increase Announcement
On February 8th, 3M announced a dividend increase of 0.7%. This will increase their dividend per quarter from $1.48 to $1.49. It is payable on March 12th for shareholders of record on February 18th. The new quarterly dividend represents an annualized dividend amount of $5.96 per share as compared to the current annualized dividend amount of $5.92 per share.
3M Dividend Information
Annual Dividend: $5.96
Dividend Growth History: 64 years
Payout Ratio: 58.5%
Dividend Increase Effect
I am currently holding 15.977 shares of 3M stock in the More Dividends portfolio. With this 0.7% increase it will add an additional $0.64 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Current Stock Position
3m is a great company that I originally acquired at the beginning of the pandemic. The dividend increases have not been as large as I would have hoped but I think that 3M is a good company that will pay off in the long term.
I look forward to the chance to be able to build onto this position but until then I will just have to sit back and be a patient investor.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in 3M? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
Recent Dividend Increases in Portfolio
Viatris Increases Their Dividend by 9% in 2022
Archer Daniels Midland Increases Their Dividend by 8.1% in 2022 !!!
Wells Fargo Increases Their Dividend by 25% in 2022 !!!
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