3m to return 10 billion US dollars to shareholders, confirms sales forecast

(Reuters) -3 million CO said on Wednesday that at least 10 billion US dollars would return to shareholders in cash and aim for an operational margin of around 25% by 2027, since the diversified manufacturer benefits from a restructuring according to its new CEO .

Bill Brown, who succeeded Mike Roman as CEO in May, has focused on developing new products to redirect the expenses from the company's earlier priorities when reducing legal liabilities and reducing the costs for the supply chain.

Saint Paul, 3m in Minnesota, has also focused on resuming the costs and leaving less profitable consumer product lines in order to fight the slowdown of demand as part of its restructuring efforts.

3M also affirmed its annual forecast of organic sales growth in the range of 2% to 3%.

The company, which will organize its annual day of investors on Wednesday, reported an operational income margin of 19.6%last year.

(Reporting of Kannaki Deka in Bengaluru; editorial team by Sriraj Kalluvila)