There's a lot to like about 3M (NYSE: MMM), including a huge 5.7% dividend yield. That yield, meanwhile, is backed by a company that has increased its payout annually for a massive 65 years, making it a highly elite dividend King. These were key factors when I decided to invest in 3M.
Here's why you might want to buy this iconic industrial giant -- and why I ended up choosing to sell most of my position.
3M traces its history back to 1902. The company was set up to mine for a particular mineral and failed to find it. Quickly shifting gears, 3M managed to muddle through this early hardship. That resilience is something of an ingrained company trait and it started basically on Day 1.
Source Fool.com