3M Sets Year's Biggest U.S. Buyback Plan, Raises Dividend
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3M Co., whose products range from Post-It notes to films used in flat-panel TVs, said it could buy back up to $22 billion of shares in the five years through 2017, joining a list of companies announcing big capital returns to shareholders.
3M's repurchase plan brings the total buyback authorizations announced by U.S. companies this year to about $460 billion, the highest since 2007 and the onset of the global financial crisis.
The company's shares rose as much as 3 percent after it also raised its quarterly dividend by a third.
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