3M (MMM) has always been one of my favorite dividend stocks. Besides selling a host of products you likely have in your own home, 3M operates in multiple other segments.
3M handles packaging and interconnection devices, personal and commercial protection products, film solutions and filters, reflective transportation sheeting, and an endless list of what I call “tech-accessory” items. It’s the stuff you don’t think about, like insulation for electronic devices and even drug delivery systems.
Investors should take comfort in the fact that 3M has been one of the best dividend stocks for 54 years. Its 2% yield is more than covered by free cash flow, as the yield represents about 40% of historical FCF.