5 Dividend Growth Stocks with Over 3% Yield

3. 3M Company (NYSE:MMM)

Dividend Yield as of May 11: 6.11%

3M Company (NYSE:MMM) is next on our list of the best dividend growth stocks with high yields. The American multinational conglomerate maintains a 66-year track record of consistent dividend growth. It currently offers a quarterly dividend of $1.51 per share and has a dividend yield of 6.11%, as of May 11. In FY23, the company returned $3.3 billion to shareholders through dividends.

3M Company (NYSE:MMM) was a part of 62 hedge fund portfolios at the end of Q4 2023, up from 54 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a collective value of over $1.75 billion. With over 3.1 million shares, Balyasny Asset Management was the company’s leading stakeholder in Q4.

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