3M Continues Strong Capital Returns to Shareholders Amid Peers' Focus
3M Company (MMM) operates as a diversified technology firm across various markets including industrial, electrical, transportation, consumer, and home care. It has manufacturing operations globally and serves a diverse customer base.
The company's commitment to rewarding shareholders through dividends and share buybacks is encouraging. In the first six months of 2026, MMM rewarded its shareholders with $813 million in dividends and $3 billion in buybacks. Notably, in February 2025, the board authorized a share repurchase program of up to $7.5 billion, which has no expiration date.
MMM's peers GE Aerospace (GE) and Howmet Aerospace (HWM) also focus on returning capital to shareholders. In the first half of 2026, GE repurchased shares for $4.2 billion and paid dividends worth $873 million, while HWM paid dividends of $97 million in the same period.
Looking ahead, MMM expects total revenue growth (on an adjusted basis) above 4.5% in 2026, with an adjusted free cash flow conversion rate of more than 100%. The company's strong liquidity should support its shareholder-friendly policies.