Is 3M a Great Dividend Stock?
Minnesota Mining and Manufacturing's ticker symbol "MMM" was so iconic that people simply started calling the company 3M (NYSE: MMM) not long after the company started operating in 1902. The moniker stuck and has appeared on its products for much of its history, but management didn't officially change the company's name until 2002. It's a statement of how popular a company 3M has been at times through its 100-year-plus history.
But is it a great dividend stock today? Here's what you need to know.
Before going too far, it makes sense to address the dividend. 3M has raised its dividend annually for 63 consecutive years. After 25 annual increases, an S&P 500 company qualifies for status as a Dividend Aristocrat, which is a pretty rarefied group. After 50 years, it earns an unofficial moniker as a Dividend King, which is even more rare and remarkable. It's important to note that 3M beats even that rating -- an impressive achievement.
Source Fool.com
