3M India Ltd. is the subsidiary of the US-based 3M Co. It has announced  final dividend of ₹160 per share. Along with the final dividend, the company has just declared a special dividend of ₹525 per share, taking the total payout to ₹685 per share.

The Company manages its operations in four operating segments: Safety & Industrial , Transportation & Electronics, Health Care and Consumer. In India, the Company has manufacturing facilities at Ahmedabad, Bangalore, Pune and has a R&D Center in Bangalore.

Dividend :

3M India Ltd on the on May 28, 2024, the Board of Directors of 3M India  recommended and declared a Final Dividend of Rs. 160/- and a Special Dividend of Rs. 525/- per equity share of Rs. 10/- each. The record date of the dividend shall be 18/06/2024. i.e. anybody who wants to get the dividend must purchase the shares of the bank on/before 17/06/2024. to get themselves resister in the record of the eligible receivers of the dividend.
The payment date of the dividend will be within 30 days from the record date.

The persons who bought the shares solely for the purpose of dividend can sell the shares on the record date i.e. on 18/06/2024 and still they will be eligible to receive the dividend as their name would have been registered on 17/06/2024.
It is to be noted that on the record date , the share price of IndusInd Bank will fall by the dividend amount i.e it will fall by Rs685 per equity share(160+525) in the opening session to adjust its price to ex-dividend.

So investors are adviced to make their decision wisely.

3M INDIA Share Price Target 2024 :

3M India lifetime high and lows are:

On 28/05/2024 ,shares of 3M India 3MINDIA closed up 9.9% after soaring as much as 11.8% to post highest level since end-Jan 2024. It opened at a price of 31,248.95 and closed at Rs34,010.10. The shares also recorded a high volume of 113.543k.

It’s Q4 PAT rose 27% y/y, revenue up 5% y/y.

As per the monthly chart, it can be seen that the shares of 3M INDIA have formed a bullish POLE & FLAG pattern are expected to reach a target of Rs 40000 after the breakout of the pattern along with breaking the resistance level of Rs37285. It would amount to a return of atleast 7% from the breakout levels.

READ MORE : Indusind Bank declairs Final Dividend. Know the record date, payment date, and more

3M INDIA Financials :

The Quarterly datas of the financials are as follows: (Amount in crores)

The Quarterly percentage increase/ decrease in the financials are as follows:

THE Annual P/L are as follows: (Amount in crores)

It can be clearly seen that the NET PROFIT is increasing year on year basis also the company has started giving dividends since 2023.

Disclaimer :

The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.