Wednesday marks the last chance for investors to receive the next dividend payout from 3M (NYSE:MMM).
What’s Happening
The company announced on Tuesday that it would pay shareholders a quarterly dividend of $1.5 per share. On Thursday, 3M will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open $1.5 lower than it would have opened on any other day.
In order to be eligible to receive a company’s dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own MMM as of the end of Wednesday’s session are eligible to receive the $1.5 dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on June 12, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.
To stay up-to-date with the companies that are announcing their dividends, click here to visit our Dividends Calendar.
