3M hits 100 years of dividends

Article Excerpt

With its September 2016 dividend payment of $1.11 a share, 3M has now paid dividends continuously for the past century. It has also increased the payout each year for the past 58 years. The company’s wide array of businesses should let it continue that dividend history. As well, 3M’s broad geographic presence helps cut its risk. It is also positioned to continually develop new products and make smart acquisitions. 3M COMPANY $179 (New York symbol MMM; Conservative Growth and Income Portfolios, Manufacturing & Industry sector; Shares outstanding: 604.4 million; Market cap: $108.2 billion; Price-to-sales ratio: 3.6; Dividend yield: 2.5%; TSINetwork Rating: Above Average; www.3m.com) began operating in 1902 when it was called the Minnesota Mining & Manufacturing Company. The business started off making sandpaper and abrasives for industrial clients. It later developed other consumer and manufacturing- related goods, such as pressure-sensitive masking and packaging tape, audio recording tape and reflective highway markings. Today, 3M produces more than 60,000 items, including…