Topic: How To Invest

Dividend Advisor Hotline – Friday, August 26, 2022

Article Excerpt

3M COMPANY, $129.14, New York symbol MMM, is still a buy for long-term gains. The company makes over 60,000 consumer and industrial goods, including air purifiers, adhesives, bandages and components for medical devices. Investors tap its main brands, including Post-it notes, Scotch tape, Scotch-Brite cleaning products, Scotchguard protection and Thinsulate insulation. 3M last raised its quarterly dividend with the March 2022 payment. Investors now receive $1.49 a share, up 0.7% from $1.48. The new annual rate of $5.96 yields a high 4.6%. 3M has paid dividends continuously for over 100 years and has increased that rate each year for the past 64 years. The company recently agreed to merge its Food Safety business with Neogen Corp. (Nasdaq symbol NEOG). 3M investors will hold 50.1% of the combined firm, with Neogen shareholders owning 49.9%. The merged company will be a leading supplier of equipment that foodmakers use to detect pathogens and other harmful substances in their products. 3M has set up this non-cash transaction as a..

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