3M Co. this week declared a quarterly dividend of $1.11 per share of common stock for the third quarter. In doing so, it marked 100 consecutive years of issuing dividends to shareholders.
Inge Thulin, chief executive and chairman of the Maplewood-based conglomerate, said the milestone was important.
"A hallmark of our company's long history of success is the ability to consistently invest to grow our businesses and to create value for our shareholders, including paying a strong and steady dividend," Thulin said. "Today we are proud to mark 3M's 100th consecutive year of paying dividends, which we have increased for each of the last 58 years."
As of June 30, 2016, 3M had 604,400,291 common shares outstanding and 83,120 shareholders of record. 3M manufactures more than 55,000 products worldwide including sandpaper, Scotch Tape, sponges, respirator masks, hospital dressings and worker harnesses.It has 89,400 workers worldwide, including 17,000 in Minnesota.
The latest dividend is payable Sept. 12.