Dividend Kings List by Yield: Top 10 Stocks

4. 3M Company (NYSE:MMM)

Dividend Yield as of November 11: 4.61%

3M Company (NYSE:MMM) is an American multinational conglomerate that produces products related to industrial, healthcare, and consumer industries. In September, BofA maintained a $140 price target on the stock as the company works to navigate the challenging market environment. The firm also appreciated growth in the company’s Healthcare segment.

In Q3 2022, 3M Company (NYSE:MMM) reported an operating cash flow of $1.5 billion, and its free cash flow came in at $1.4 billion. The company remained committed to shareholder obligation, returning $1 billion to stakeholders through dividends and share repurchases.

On November 8, 3M Company (NYSE:MMM) declared a quarterly dividend of $1.49 per share, in line with its previous dividend. The company is one of the best dividend stocks as it has paid dividends to shareholders regularly for 100 years. Moreover, it also holds a 64-year track record of consistent dividend growth. As of November 11, the stock has a dividend yield of 4.61%.

At the end of Q2 2022, 54 hedge funds in Insider Monkey’s database owned stakes in 3M Company (NYSE:MMM), up from 51 in the previous quarter. These stakes are collectively valued at over $1.38 billion. Ken Fisher, Jim Simons, and Cliff Asness were some of the company’s major stakeholders in Q2.

Mayar Capital mentioned 3M Company (NYSE:MMM) in its Q2 2022 investor letter. Here is what the firm has to say:

“We also bought back into 3M (NYSE:MMM) as the stock reached attractive levels. We’d sold our shares in 3M last year when the price exceeded our estimated fair value, and as better opportunities to invest in presented themselves at the time. Nonetheless, we’ve always liked this business with its diversified revenues, its R&D leadership and its stable margins.