12 Best Industrial Dividend Stocks to Invest in Now

2. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 79

3M Company (NYSE:MMM) is a multinational conglomerate, based in Minnesota, US. The company operates in a wide range of industries. While the broader industry has struggled with high costs and slowing economic activity, this company has been one of the few industrial stocks to perform well. Over the past year, 3M Company (NYSE:MMM) has surged by nearly 75%, driven by successful cost-cutting measures.

In its fourth-quarter 2024 earnings report, 3M Company (NYSE:MMM) posted revenue exceeding $6 billion, surpassing analysts’ expectations by $157 million. Recently, the company has concentrated on strengthening its core business areas, with innovation remaining a top priority. Significant investments in proprietary technologies and patents have reinforced its competitive edge. In addition, efforts to enhance operational efficiency—particularly within its supply chain—have resulted in a 70% improvement in supplier on-time delivery. The company’s ability to navigate regulatory challenges and ongoing litigation has also played a key role in maintaining financial stability and bolstering investor confidence.

3M Company (NYSE:MMM) maintained a steady cash position in fiscal 2024, generating $1.8 billion in operating cash flow and $4.9 billion in free cash flow. Over the year, the company returned $3.8 billion to shareholders through dividends and share repurchases. On February 4, it declared a 4.3% hike in its quarterly dividend to $0.73 per share. This was the company’s first dividend hike since slashing its payout by 50% in May last year. The stock has a dividend yield of 1.91%, as of March 17.