3M boosted its quarterly dividend nearly 20% on Tuesday. Here’s what the news means for mutual fund investors.
Inside the News
3M Co (MMM) boosted its quarterly dividend to $1.025, or $4.10 annually. The dividend will be payable on March 12 to shareholders of record on February 13. The stock will go ex-dividend on February 11. The stock now has a dividend yield of 2.6%.
Stock Sits at All-Time Highs
With its most decent dividend increase, 3M now offers a decent yield to its shareholders. However, the stock is at all time highs and has an expensive valuation in our view.
Mutual Funds to Watch
Investors seeking exposure to MMM may also consider the funds below. These funds currently hold the largest stakes in the company.
Vanguard Total Stock Market Index
Vanguard 500 Index
The Bottom Line
The funds above offer a diverse group of holdings and industries for investors. Investors interested in MMM
may also be interested in Hewlett-Packard (HPQ
) and Honeywell (HON
Shares of MMM are up 14% YTD.