3M Increases Dividend 8 Percent and Authorizes $7.5 Billion Share Repurchase Program

  3M Increases Dividend 8 Percent and Authorizes $7.5 Billion Share Repurchase
  Program

Business Wire

ST. PAUL, Minn. -- February 5, 2013

The Board of Directors of 3M (NYSE:MMM) today declared a dividend on the
company’s common stock of 63.5 cents per share for the first quarter of 2013,
an 8 percent increase over the quarterly dividend paid in 2012. The dividend
is payable on March 12, 2013, to shareholders of record at the close of
business on February 15, 2013. This marks the company’s 55^th consecutive year
of 3M dividend increases, and its 96^th year of continuous dividend payments.

The board also authorized the repurchase of up to $7.5 billion of 3M’s
outstanding common stock, replacing the company’s existing repurchase program.
The authorization has no pre-established closing date.

“These actions reflect both our confidence in 3M’s future and our commitment
to return significant cash to our shareholders,” said Inge Thulin, 3M
chairman, president and CEO.

Over the past ten years, the company has returned $32 billion to shareholders
through a combination of dividends and share repurchases, or 89 percent of
reported net income.

As of December 31, 2012, 3M had 687,091,650 common shares outstanding and
96,719 shareholders of record.

The 3M Board of Directors also set March 15, 2013, as the record date for the
determination of stockholders entitled to notice of, and to vote at, the
Annual Meeting of Stockholders to be held on Tuesday, May 14, 2013.

Forward-Looking Statements

This news release contains forward-looking information about 3M's financial
results and estimates and business prospects that involve substantial risks
and uncertainties. You can identify these statements by the use of words such
as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe,"
"will," "target," "forecast" and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance or
business plans or prospects. Among the factors that could cause actual results
to differ materially are the following: (1)worldwide economic and capital
markets conditions and other factors beyond the Company's control, including
natural and other disasters affecting the operations of the Company or its
customers and suppliers; (2) the Company's credit ratings and its cost of
capital; (3)competitive conditions and customer preferences; (4)foreign
currency exchange rates and fluctuations in those rates; (5)the timing and
market acceptance of new product offerings; (6)the availability and cost of
purchased components, compounds, raw materials and energy (including oil and
natural gas and their derivatives) due to shortages, increased demand or
supply interruptions (including those caused by natural and other disasters
and other events); (7)the impact of acquisitions, strategic alliances,
divestitures, and other unusual events resulting from portfolio management
actions and other evolving business strategies, and possible organizational
restructuring; (8)generating fewer productivity improvements than estimated;
(9)security breaches and other disruptions to the Company's information
technology infrastructure; and (10) legal proceedings, including significant
developments that could occur in the legal and regulatory proceedings
described in the Company's Annual Report on Form10-K for the year ended
December31, 2011, and its subsequent quarterly reports on Form 10-Q (the
"Reports"). Changes in such assumptions or factors could produce significantly
different results. A further description of these factors is located in the
Reports under "Cautionary Note Concerning Factors That May Affect Future
Results" and "Risk Factors" in PartI, Items 1 and 1A (Annual Report) and in
Part I, Item 2 and Part II, Item 1A (Quarterly Report). The information
contained in this news release is as of the date indicated. The Company
assumes no obligation to update any forward-looking statements contained in
this news release as a result of new information or future events or
developments.

About 3M

3M captures the spark of new ideas and transforms them into thousands of
ingenious products. Our culture of creative collaboration inspires a
never-ending stream of powerful technologies that make life better. 3M is the
innovation company that never stops inventing. With $30 billion in sales, 3M
employs 88,000 people worldwide and has operations in more than 70 countries.

Contact:

3M
Investor Contacts:
Matt Ginter, 651-733-8206
or
Bruce Jermeland, 651-733-1807
or
Media Contact:
Jacqueline Berry, 651-733-3611
 
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