Dividend Aristocrat 3M (MMM) will raise its quarterly dividend by almost 16 percent to $1.36 per share in the first quarter of 2018. Last year the industrial company hiked its dividend by 5.9 percent.

The dividend is payable March 12, 2018, to shareholders of record at the close of business on Feb. 16, 2018. 

“A strong, steady and rising dividend is a hallmark of our enterprise,” said Inge G. Thulin, 3M chairman, president and chief executive officer. “This increase reflects confidence in our ability to continue generating premium returns in 2018 and beyond.”

This marks the 60th consecutive year 3M has increased its dividend. The company has paid dividends to its shareholders without interruption for 100 years.

3M Company is a technology company which operates in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets.  The company's business segments are Industrial; Safety and Graphics; Health Care; Electronics and Energy; and Consumer. 3M's products include adhesives, abrasives, laminates, passive fire protection, dental and orthodontic products, electronic materials, medical products, car-care products, electronic circuits, and optical films. 3M Company (formerly Minnesota Mining and Manufacturing Company) was incorporated in 1929 under the laws of the State of Delaware to continue operations begun in 1902.