3M Holds Good On Its Promise To Prioritize Dividend

The 3M (MMM) board of directors have declared a dividend on the company’s common stock of $1.47 per share for the second quarter of 2020. The dividend is payable June Read More... The post 3M Holds Good On Its Promise To Prioritize Dividend appeared first on TipRanks Financial Blog.

3M Holds Good On Its Promise To Prioritize Dividend

The 3M (MMM) board of directors have declared a dividend on the company’s common stock of $1.47 per share for the second quarter of 2020.

The dividend is payable June 12, 2020, to shareholders of record at the close of business on May 22, 2020.

Respirator-maker 3M has paid dividends to its shareholders without interruption for more than 100 years.

As of March 31, 2020, 3M had 575,196,371 common shares outstanding and 73,417 shareholders of record.

The company recently withdrew financial guidance for 2020, halted buybacks, cut capex, and reaffirmed its commitment to prioritize the dividend.

3M also revealed that it aims to double its production of N95 respirators to 2 billion by year-end to meet the escalating global demand.

"We are mindful of the fact that 3M is one of the highest-quality Multi-Industry companies, as defined by our Investment Framework, with a coveted spot among the illustrious Primes" commented RBC Capital analyst Deane Dray on April 28.

"That said, we believe that the company’s historical reputation for being a defensive “safe haven” has been eroded by its now-apparent sensitivity to demand softness and relatively limited forward visibility."

As a result the analyst reiterated his hold rating while bumping up the price target from $143 to $148. Indeed the stock has an overall Hold analyst consensus, with 4 recent buy ratings vs 6 hold ratings and 2 sell ratings.

Meanwhile the average analyst price target of $166 suggests 17% upside potential lies ahead. (See MMM’s stock analysis on TipRanks). Shares are currently trading down about 20% year-to-date.

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Telecom shares on May 13; Sterlite Technologies surges almost 9%

Telecom shares on May 13; Sterlite Technologies surges almost 9% Telecom shares on May 13: On Wednesday, both Sensex and Nifty reported its bullish trend in the stock market after a bearish trend in the last two sessions. The Sensex is trading above 32,000 levels, and Nifty is trading above 9,300... The post Telecom shares on May 13; Sterlite Technologies surges almost 9% appeared first on stockinvestor.in.

Telecom shares on May 13; Sterlite Technologies surges almost 9%

Telecom shares on May 13; Sterlite Technologies surges almost 9%

Telecom shares on May 13: On Wednesday, both Sensex and Nifty reported its bullish trend in the stock market after a bearish trend in the last two sessions. The Sensex is trading above 32,000 levels, and Nifty is trading above 9,300 levels in the stock market. The Sensex gained 635.07 points with a 2.02% increase and reached a 32,018.28 level. While Nifty gained 192.90 points with a 2.10% increase and reached 9,390.30 level.

On the other side, the number of coronavirus cases in India reached 74,281 as of Wednesday, May 13, and deaths reached 24,386.

However, Telecom shares on May 13 reported a bullish trend in the stock market. The list of companies reported a bullish trend in the stock market is:

Vodafone Idea Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.15 points with a 3.03% increase and reached 5.10 INR. While in BSE, the company gained 0.19 points with a 3.85% increase and reached 5.13 INR.

HFCL Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.45  points with a 4.48% increase and reached 10.50 INR. While in BSE, the company gained 0.50 points with a 4.98% increase and reached 10.54 INR.

OnMobile Global  Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.70 points with a 2.58% increase and reached 27.80 INR. While in BSE, the company gained 0.70  points with a 2.57% increase and reached 27.90 INR.

Sterlite Technologies Limited: The company trading bullishly in the stock market on Wednesday. The company gained 8.55 points with an 8.94% increase and reached 105.45 INR. While in BSE, the company gained 8.60 points with an 8.89% increase and reached 105.35 INR.

Tejas Network Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.65 points with a 1.93% increase and reached 34.35 INR. While in BSE, the company gained 0.70 points with a 2.04% increase and reached 35.00 INR.

Aksh Optifibre Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.20 points with a 4.40% increase and reached 4.75 INR. While in BSE, the company gained 0.22 points with a 4.80% increase and reached 4.80 INR.

GTPL Hathway Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.65 points with a 1.43% increase and reached 46.05 INR. While in BSE, the company gained 0.50 points with a 1.10% increase and reached 46.00 INR.

ITI Limited: The company trading bullishly in the stock market on Wednesday. The company gained 3.05 points with a 3.70% increase and reached 85.30 INR. While in BSE, the company gained 2.95  points with a 3.58% increase and reached 85.25 INR.

Bharti Infratel Limited: The company trading bullishly in the stock market on Wednesday. The company gained 5.90 points with a 3.11% increase and reached 195.50 INR. While in BSE, the company gained 5.85 points with a 3.08% increase and reached 195.65 INR.

Vindhya Telelink Limited: The company trading bullishly in the stock market on Wednesday. The company gained 7.70 points with a 1.42% increase and reached 549.80 INR. While in BSE, the company gained 5.95 points with a 1.09% increase and reached 550.85 INR.

Reliance Communications Limited: The company trading bullishly in the stock market on Wednesday. The company gained 0.05 points with a 6.25% increase and reached 0.85 INR. While in BSE, the company gained 0.03 points with a 3.75% increase and reached 0.83 INR.

The Top losers in the Telecom Sector on May 13 stock market are:

Optiemus Infracom Limited: The company trading bearishly in the stock market on Wednesday. The company lost 0.25 points with a 1.27% decrease and reached 19.50 INR. While in BSE, the company lost 0.70 points with a 3.55% decrease and reached 19.00 INR.

Bharti Airtel Limited: The company trading bearishly in the stock market on Wednesday. However, the company lost 4.00 points with a 0.71% decrease and reached 555.75 INR. While in BSE, the company lost 4.10 points with a 0.73% decrease and reached 555.55 INR.

In the border market, the S&P BSE Smallcap index reported a bullish trend in the stock market on Wednesday. It gained 211.64 points with a 2.00% increase and reached a 10,777.29 level. The S&P BSE Midcap index gained 193.50 points with a 1.70% increase and reached an 11,604.37 level. While Nifty Bank gained 794.20 with a 4.21% increase and reached a 19,630.65 level.

Top Gainers on May 13: Axis Bank, UltraTech Cement, Larsen, ICICI Bank, and Zee Entertainment are the top gainers in today’s stock market

Top Losers on May 13: Nestle India, Sun Pharma, Bharti Airtel, Britannia, and Dr. Reddy’s Labs are the top losers in today’s stock market. 

The post Telecom shares on May 13; Sterlite Technologies surges almost 9% appeared first on stockinvestor.in.

Source : Stockinvestor More   

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