If you are looking for a blue-chip company that pays a healthy dividend, 3M (NYSE:MMM) stock remains an excellent pick. This is despite the difficulties the industrial conglomerate has faced in recent years. Of course, 3M stock might not hold the same attraction it once did. But if you’re a value investor, its 3.3% yield is a nice paycheck. It should hold you over while you wait for management to fix what ails it.
The dividend yield isn’t the be-all and end-all. It’s more important that a company has a history of raising dividends. 3M has increased its dividend for 61 consecutive years. If 3M stops paying a dividend, you can be sure the world is coming to an end. Seriously, though, it has got a strong track record of dividend payments that ought to be a consolation for people like my colleague who’re worried that 3M has lost its seat at the big boys’ table.
Source: InvestorPlace
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