BUZZ-3M shares rise after announcing settlement on "forever chemicals" and launching a new stock buyback plan

November 4 - ** In pre-market trading on Wednesday, shares of 3M (MMM.N) rose 3.3% to $182.90 after the company announced it would invest nearly $7.35 billion over nine years to settle personal injury claims related to PFAS "forever chemicals".

** On Tuesday evening, the company said (link) that the settlement covers approximately 99% of existing personal injury claims both within and outside the AFFF multidistrict litigation, with around 115,000 to 120,000 plaintiffs eligible for participation.

** The company expects a pre-tax charge of $5.8 billion in the fourth quarter but stated that its previously issued earnings guidance remains unchanged; payment terms include a $50 million payment in 2026 and no payment in 2027.

** 3M did not admit liability and remains prepared to defend itself in court; remaining and future personal injury claims will be handled through various settlement mechanisms.

** Additionally, late Tuesday, the company announced (link) a new share repurchase authorization of up to $6 billion, in addition to the remaining $1.5 billion available under its existing 2025 authorization.

** The company also announced a fourth-quarter cash dividend of $0.78 per share, to be paid on December 11, 2026, to shareholders of record as of November 13.

** As of Tuesday’s close, MMM shares were up 10.6% year-to-date, matching the gain of the S&P 500 index .SPX.

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