This $22.5 Million Legal Loss Could Be a Huge Problem for This Dividend Aristocrat
There are only a few companies with the same kind of iconic history that 3M (NYSE: MMM), formerly Minnesota Mining and Manufacturing, has to offer. But a great history, including over six decades of consistent annual dividend increases, isn't enough to get investors to overlook some recent troubling headlines. And there's a good reason for that when you examine the $22.5 million legal loss 3M just suffered.
To start off, 3M's dividend yield is currently around 3.4%. That's toward the high end of the stock's historical yield range. That yield has spiked near or above 4% a couple of times, but other than the 2007-2009 Great Recession and the 2020 coronavirus bear market, 3M's yield hasn't been as high as it is today since the 1990s. If you are a long-term dividend investor, now is a good time to take a look at this Dividend Aristocrat.
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Source Fool.com
