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3M cuts dividend, ending long reign as a Dividend King

3M has officially ended its reign as one of a few Dividend Kings, a small class of companies that have consistently increased dividends for 50 years.

On Tuesday, the Maplewood-based company declared a 70-cent quarterly payout, about half of the previous quarter's dividend.

Investors expected the dividend cut after 3M spun off its health care business into a separate company, Solventum, in April. After offloading 25% of its revenue and earnings, 3M announced last month it would "reset" the dividend, which it had increased annually for 64 years.

https://www.startribune.com/3m-dividend-king-shareholder-ceo-pay-bill-brown/600365948/

 

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