3M Stock Is Higher Despite Its Dividend Cut. Here's Why
MMM3M(MMM) Kiplinger·2024-04-30 23:36

3M (MMM) stock is up nearly 4% Tuesday, making it the best Dow Jones stock in intraday trading. The upside comes as the Post-It note maker's first-quarter earnings and revenue beat offset news that MMM is cutting its dividend, putting an end to its six-decade streak of increases.In the three months ended March 31, 3M said revenue increased 0.5% year-over-year to $7.7 billion and earnings per share (EPS) were up 21.3% to $2.39. The results exceeded analysts' expectations for revenue of $7.1 billion and EPS o ...