The innovative conglomerate has put together an amazing track record of boosting its payouts to shareholders. Can it last?
3M (NYSE:MMM) is a company that most people know about but few fully understand. Going well beyond its most visible products like Post-It Notes and Scotch tape, 3M has its fingers in a huge number of different sectors of the economy, and its innovative spirit has enabled it to get profits from an impressive number of sources.
For dividend investors, 3M has been even more lucrative. With a streak of 59 straight years of dividend increases, 3M numbers among the elite dividend stocks in the entire U.S. stock market. Yet investors want to know if 3M's dividends are sustainable and whether its pace of dividend growth will continue into the future. Let's take a closer look at 3M and its dividend history to get some ideas about what's likely to come down the road.