3M business update: Solid guidance, dividend hike, new buyback allowance

3M (MMM) is out with an announcement and guidance in front of a meeting with institutional investors and analysts.

The company says it maintains a long-term organic revenue target for 4%-6% growth and an EPS outlook of 9%-11% growth.

For 2014, 3M sees EPS of $7.30-$7.55 vs. $7.40 consensus.

A dividend payout increase of 35% and a plan to buy back $17B to $22B in shares is also outlined by execs.

3M Analyst meeting webcast

MMM +2.7% premarket.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs