Dow Inc CEO Jim Fitterling elected to 3M's board

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FILE PHOTO: Dow’s CEO Jim Fitterling attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 21, 2020. REUTERS/Denis Balibouse

(Reuters) – 3M Co, which makes N95 face masks, said on Tuesday that Jim Fitterling, chairman and chief executive officer of Dow Inc, has been elected to its board, effective February 5.

“In connection with Mr. Fitterling’s election, the board of directors increased its size from 11 to 12 members”, 3M said in a statement.

Separately, 3M said it declared a dividend on the company’s stock of $1.48 per share for the first quarter of 2021, an increase of 1% over the quarterly dividend paid in 2020.

3M has seen robust demand for disposable respirator masks, hand sanitizers and safety glasses amid a surge in coronavirus infections and late in January reported a fourth quarter net income attributable to the company of $1.40 billion, or $2.38 per share, a rise of 43%.

Reporting by Kanishka Singh in Bengaluru; Editing by Michael Perry