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In addition, with interest rates potentially rising, 3M’s borrowing costs are likely to rise over time as it refinances older bonds and continues to gradually take on new debt each year (about $2 billion expected in 2018). Genesis Energy (GEL) slashed its dividend by 73%. Westwood Holdings Group (WHG) suspended its dividend. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. When it comes to industrial dividend kings, there are few better run and wider moat names than 3M. CorEnergy Infrastructure Trust (CORR) cut its dividend by 93%. High Country Bancorp (HCBC) cut its dividend by 50%. Seadrill Partners LLC (SDLPF) suspended its dividend. 3M Company (MMM) Updated April 28th, 2020 by Nathan Parsh Disclosure: This analyst has a long position in the security discussed in this research report. CNX Midstream Partners LP (CNXM) cut its dividend by 80%. Fidus Investment Corporation (FDUS) reduced its dividend by 23%. 3M excels here as well, with industry-leading margins and returns on capital. MMM Dividend History & Description — 3M Co. 3M is a technology company. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. This has led to a steady decline in costs of goods sold and rising operating margins and returns on invested capital. Abercrombie & Fitch Co. (ANF) suspended its dividend. Cinemark Holdings (CNK) suspended its dividend. Armanino Foods of Distinction (AMNF) cut its dividend by 36%. Wendy's Company (WEN) cut its dividend by 50%. You can learn more about how Dividend Safety Scores are calculated here. The company raised its dividend 2% for the 3/12/2020 payment. Columbia Sportswear Company (COLM) suspended its dividend. Pacific Coast Oil Trust (ROYT) suspended its dividend. Copa Holdings, S.A. (CPA) suspended its dividend. Deutsche Bank Aktiengesellschaft (DB) suspended its dividend. This will further extend 3M's streak of 59 consecutive annual dividend increases. In 2017, the US dollar depreciated substantially against most currencies after several years of strong growth. Xenia Hotels & Resorts (XHR) suspended its dividend. Vermilion Energy (VET) suspended its dividend. Anheuser-Busch InBev SA/NV (BUD) cut its dividend by 50%. Finally, 3M benefits from selling many specialized, mission critical, but still relatively low cost products to industrial customers. Investcorp Credit Management BDC (ICMB) reduced its dividend by 28%. Colony Capital (CLNY) suspended its dividend. Dynex Capital (DX) reduced its dividend by 13%. That means a focus on adhesives, connectors, and cooling systems for driverless and electric cars. Obviously investors in 3M need to keep in mind that all industrial stocks will experience cyclical sales growth or declines over time. Capitala Finance Corp. (CPTA) suspended its dividend. Weingarten Realty Investors (WRI) cut its dividend by 55%. With this in mind, MMM’s dividend appears Safe … Ituran Location and Control Ltd. (ITRN) suspended its dividend. Those margins should benefit from ongoing cost savings plans, including a $500 million to $700 million reduction in annual expenses between 2016 and 2020. BP Prudhoe Bay Royalty Trust (BPT) suspended its dividend. Dividend Safety Scores range from 0 to 100. Unique Fabricating (UFAB) suspended its dividend. Noble Energy (NBL) slashed its dividend by 83%. Hallador Energy Company (HNRG) suspended its dividend. Now the good news is that 3M’s debt levels are far from dangerous (more on this in a moment). GasLog Partners LP (GLOP) slashed its dividend by 77%. Lloyds Banking Group plc (LYG) suspended its dividend. However, 3M has managed to carve out a very wide moat and has shown an incredible ability to continue growing its earnings and cash flow over time, despite the occasional industry downturn such as 2015 and 2016 (due largely to tumbling commodity prices). Alliance Data Systems Corporation (ADS) cut its dividend by 67%. Westpac Banking Corporation (WBK) suspended its dividend. Covanta Holding Corporation (CVA) cut its dividend by 68%. Or to put it another way, 3M has a very sticky product line that allows it to steadily increase its prices each year while retaining strong customer loyalty and a rising market share. Dividend stocks “safety” can also be measured based on above-average market capitalizations and liquidity, balance-sheet strength (per their Altman Z-score). Armada Hoffler Properties (AHH) suspended its dividend. Realty Income pays an annual dividend of $2.81 per share, with a dividend yield of 4.52%. Unfortunately, 3M’s superior business quality and strong growth prospects appear to be priced in and then some. While 3M is among the highest-quality industrial companies in the world, that doesn’t mean that there aren’t risks current and potential investors need to consider. Redwood Trust (RWT) cut its dividend by 61%. economic conditions. Southwest Airlines Co. (LUV) suspended its dividend. The company has five main business segments. Meanwhile, 3M’s dividend yield of 2.0% is below its five-year average yield of 2.5%. Meredith Corporation (MDP) suspended its dividend. Gladstone Capital Corporation (GLAD) reduced its dividend by 7%. Just Energy Group (JE) suspended its dividend. With this in mind, MMM’s dividend appears very safe with an extremely unlikely risk of being cut. Ensco Rowan (ESV) suspended its dividend. Ladder Capital Corp (LADR) cut its dividend by 41%. Exclusive to Simply Safe Dividends, Dividend Safety Scores were created by our founder, Brian Bollinger, who is a CPA and former partner at a multi-billion dollar investment firm. Linamar Corporation (LIMAF) cut its dividend by 50%. Holly Energy Partners (HEP) cut its dividend by 48%. R. R. Donnelley & Sons Company (RRD) suspended its dividend. Rocky Mountain Chocolate Factory (RMCF) suspended its dividend. TJX Companies (TJX) suspended its dividend. Exantas Capital Corp. (XAN) suspended its dividend. A stock’s Dividend Safety Score represents its safety rank relative to all of the other dividend-paying stocks in the market. We ran the stock through Simply Safe Dividends, and as we go to press, its Dividend Safety Score is 75. Dividend Safety Scores range from 0 to 100. As a result. Natural Resource Partners L.P. (NRP) suspended its dividend. This means that profitability is very important for a dividend growth stock. Manhattan Bridge Capital (LOAN) reduced its dividend by 10%. We analyze 25+ years of dividend data and 10+ years of fundamental data to understand the safety and growth prospects of a dividend. Orion Engineered Carbons S.A. (OEC) suspended its dividend. America First Multifamily Investors (ATAX) slashed its dividend by 77%. International Game Technology PLC (IGT) suspended its dividend. Date Amount Type Yield Change Decl. Dividend Safety Scores cut through the noise to assess how likely a company is to put its dividend on the chopping block. Our scoring system analyzes a company's most important financial metrics (payout ratios, debt levels, recession performance, and much more) to determine the likelihood of a dividend cut. Ternium S.A. (TX) suspended its dividend. Consumer Products:  post-it notes, tape, sponges, construction & home improvement products, indexing systems, and adhesives. This is why the company enjoys such a strong investment grade credit rating that allows it to borrow at an average interest rate of just 1.9%. As seen below, MMM has maintained EPS and FCF payout ratios between 30-40% over the past decade, suggesting there is plenty of cushion to continue paying and growing the dividend, even in the event of an unexpected decline in the business. The first is that the company has greatly increased its leverage (i.e. This industrial powerhouse has made countless investors amazingly wealthy over the years (12.9% total returns vs 9.1% for the S&P 500 over the last 22 years) thanks to its disciplined and steady growth strategy, which includes 59 straight years of dividend increases at a double-digit annualized rate. de C.V. (PAC) suspended its dividend. This rating is reserved for companies with strong balance sheets and/or excellent dividend histories. Cato Corporation (CATO) suspended its dividend. SFL Corporation Ltd. (SFL) reduced its dividend by 29%. Barclays PLC (BCS) suspended its dividend. Orchid Island Capital (ORC) cut its dividend by 31%. Regardless, our scoring system now handles smaller companies more conservatively, reflecting their generally more concentrated business activities and more dynamic capital allocation policies. Investcorp Credit Management BDC (ICMB) cut its dividend by 40%. There are three key factors to good capital allocation. Finally, 3M has been among the most adaptable industrial companies in the world, with a great track record of investing in a disciplined manner into the industries and markets that offer the best growth potential. Retail Opportunity Investments Corp. (ROIC) suspended its dividend. WestRock Company (WRK) cut its dividend by 57%. Over the past 115 years, 3M has obtained over 100,000 patents thanks to one of the industry’s highest R&D budgets (as a percentage of revenue). 3M Company (MMM) Updated October 27th, 2020 by Nathan Parsh Disclosure: This analyst has a long position in the security discussed in this research report. Grupo Aeroportuario del Centro Norte, S.A.B. Anworth Mortgage Asset Corporation (ANH) cut its dividend by 44%. National Oilwell Varco (NOV) suspended its dividend. Medley Management (MDLY) suspended its dividend. Cantel Medical Corp. (CMD) suspended its dividend. AGNC Investment Corp. (AGNC) reduced its dividend by 25%. However, in 2018 there are two potential catalysts that could cause the dollar to appreciate and create stronger growth headwinds for multi-national companies than is currently expected. Finally, 3M has a very strong balance sheet, meaning modest amounts of very manageable debt. Western Asset Mortgage Capital Corporation (WMC) suspended its dividend. CVR Energy (CVI) cut its dividend by 50%. Invesco Ltd. (IVZ) cut its dividend by 50%. Monroe Capital Corporation (MRCC) reduced its dividend by 29%. Let’s take a look at what has made this venerable dividend king one of the best choices for almost any long-term income growth portfolio and if 3M’s valuation looks attractive today. Crown Crafts (CRWS) suspended its dividend. This means that the components it makes represent a small fraction of the total cost of goods, and because of their industry-leading reliability and performance characteristics, industrial customers are less likely to switch to competing products. PBF Logistics LP (PBFX) cut its dividend by 42%. The Smart Dividend Safety Score shows early warning signs of a dividend cut, before it happens. Exclusive to Simply Safe Dividends, Dividend Safety Scores were created by our founder, Brian Bollinger, who is a CPA and former partner at a multi-billion dollar investment firm. General Motors Company (GM) suspended its dividend. General Electric: Another Dividend Cut Expected in 12 to 18 Months simplysafedividends.com/general-electr… #dividend, Roper Technologies (ROP) simplysafedividends.com/roper-technolo… #dividend. Specifically 3M has been investing heavily in recent years in efficiency improvement, including more advanced quality control testing procedures based on automation, wireless internet sensing, and data analytics. Dividend Safety Scores range from 0 to 100, and conservative dividend investors should stick with firms that score at least 60. Big 5 Sporting Goods Corporation (BGFV) suspended its dividend. Dividend Safety Grade: B. Diversified Royalty Corp. (BEVFF) reduced its dividend by 15%. The company raised its dividend 2% for the 3/12/2020 payment. We ran the stock through Simply Safe Dividends, and as we go to press, its Dividend Safety Score is 75. Dividend Safety Scores range from 0 to 100. Alliance Resource Partners (ARLP) suspended its dividend. In fact, when we compare 3M’s relative debt metrics to its peers we find that it has one of the strongest balance sheet in its industry. MMM's dividend yield, history, payout ratio, proprietary DARS™ rating & much more! Medley Capital Corporation (MCC) suspended its dividend. This means that this dividend king is likely to continue rewarding its long-term shareholders with a dividend increase into the future. In 2017, optimism about the recovery in the global industrial sector caused 3M to rise 38% and outperform the red hot S&P 500 by 15%. Sculptor Capital Management (SCU) suspended its dividend. American Eagle Outfitters (AEO) suspended its dividend. Molson Coors Beverage Company (TAP) suspended its dividend. CONSOL Coal Resources LP (CCR) suspended its dividend. That creates the risk that 3M may end up overpaying for new acquisitions in the future. (TV) suspended its dividend. KAR Auction Services (KAR) suspended its dividend. This is due to two major factors. This means that many companies will need to convert foreign currency cash reserves into dollars, increasing the demand for the greenback relative to other currencies. To help with that effort, we created a Dividend Safety Score system, which analyzes a blend of the most important financial ratios to rate the safety of a company’s dividend. Outfront Media (OUT) suspended its dividend. Terms of Service | Banco Bilbao (BBVA) suspended its dividend. Healthcare: Infection preventions supplies, drug delivery systems, food safety products, healthcare data systems, dental and orthotic products. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. Dividend Safety Scores range from 0 to 100. When two stocks with the same quality score have the same Dividend Safety Score, ... MMM (15) and FRT (10) with the plan of using a DRIP. Healthcare: Infection preventions supplies, drug delivery systems, food safety products, hea… Tenaris S.A. (TS) suspended its dividend. Our Dividend Safety Scores look at many of these factors to help investors locate the safest blue-chip dividends on Wall Street and avoid dividend cuts. Eagle Materials (EXP) suspended its dividend. Source: Simply Safe Dividends Orange S.A. (ORAN) reduced its dividend by 29%. Disclaimer | Wynn Resorts (WYNN) suspended its dividend. Expedia Group (EXPE) suspended its dividend. Korea Electric Power Corporation (KEP) suspended its dividend. Dynagas LNG Partners LP (DLNG) suspended its dividend. BSD and Quadrix scores are percentile rankings, with 100 the highest score. Independence Realty Trust (IRT) cut its dividend by 33%. Maiden Holdings, Ltd. (MHLD) suspended its dividend. Ethan Allen Interiors (ETH) suspended its dividend. To determine the safety of the dividend different types of a Dividend Safety Score exist. Imperial Brands PLC (IMBBY) cut its dividend by 33%. The goal was to streamline the company’s businesses and organization to maximize efficiency and cut costs wherever possible. However, given the epic bull run the stock has had, 3M’s valuation is looking a bit rich, so waiting for a pullback before getting more serious seems prudent for investors looking to initiate a new position. PennantPark Investment Corporation (PNNT) cut its dividend by 33%. This too could increase demand for dollars and thus create a reversal of the positive currency trend we saw in 2017. As a result, 3M’s dividend is very well covered, providing a safety buffer for those rare times when earnings and free cash flow do fall. Scores range from 0 to 100. learn more about how Dividend Safety Scores are calculated here. Lavish R&D spending, and highly disciplined capital investment. Suncor Energy (SU) cut its dividend by 55%. Management also set a goal to improve the company’s economies of scale, via its global supply chain, to minimize its costs of raw materials. Melco Resorts & Entertainment Limited (MLCO) suspended its dividend. However, there are two other potential risks to watch for. The global industrial conglomerate markets over 60,000 products used in homes, businesses, schools, and hospitals in over 200 countries around the world. New Mountain Finance Corporation (NMFC) reduced its dividend by 12%. Given that 3M believes it can achieve 8% to 11% long-term EPS and FCF per share growth, this seems like a realistic long-term expectation for annual dividend growth. 3M Company (MMM) Dividend summary: yield, payout, growth, announce date, ex-dividend date, payout date. Safety & Graphics: Personal protection and fall protection equipment, traffic safety products, commercial graphics equipment, commercial cleaning and safety products. EnLink Midstream (ENLC) cut its dividend by 50%. JMP Group LLC (JMP) suspended its dividend. Interpreting Dividend Safety Scores. Dividend History for 3M Co. (MMM) Ticker | Expand Research on MMM. Evolution Petroleum Corporation (EPM) slashed its dividend by 75%. Six Flags Entertainment Corporation (SIX) suspended its dividend. Privacy Policy | 3M Company (MMM) Dividend Safety metrics. In addition, 3M is rapidly gaining market share in data center cooling systems, which is an industry that is expected to grow strongly for decades. In addition, most industrial products are highly commoditized, meaning that it’s hard to maintain strong pricing power and good margins over time. Despite sporting a payout ratio below 30% and growing its quarterly revenue. This is why the rising leverage ratio of the past few years poses very little risk to the safety of the dividend. For example, 3M’s forward P/E ratio of 24.5 is not only much greater than the S&P 500’s lofty 18.4, but also above the industry median of 23.1. 3M has a Dividend Safety Score of 94, meaning its dividend is extremely safe and dependable. NGL Energy Partners LP (NGL) cut its dividend by 49%. Going forward, management plans to grow the dividend in line with earnings and free cash flow. Solar Senior Capital Ltd. (SUNS) reduced its dividend by 17%. That being said, even shares bought at today’s rich valuation could be capable of generating long-term total returns close to 10% if everything goes well (2% dividend yield + 8% to 11% annual earnings growth). Dunkin' Brands Group (DNKN) suspended its dividend. Scores are available for almost 1,000 stocks and can help you generate safer income. Equinor ASA (EQNR) cut its dividend by 67%. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. The dividend payout ratio is a safe 54%. BlackRock Capital Investment Corporation (BKCC) reduced its dividend by 29%. The currencies of such countries can be volatile relative to the dollar, which means that should the dollar appreciate in value, local sales and profits will translate into fewer dollars for accounting and dividend payment purposes. 3M’s China business is its fastest-growing unit, with 23% sales growth in Q3 of 2017 and 10% to 15% projected revenue growth in 2018. Geographically 3M is also diversified, with a large amount of international sales: Over time, 3M’s international exposure will only grow given that its foreign sales are growing much faster than its US revenues. After paying uninterrupted distributions for more than 30 consecutive years. Landmark Infrastructure Partners LP (LMRK) cut its dividend by 46%. Schlumberger Limited (SLB) slashed its dividend by 75%. For a company of 3M’s size, and one in a capital intensive industry, 3M’s net debt position of about $8 billion is remarkably small. Payout ratio calculation and chart. Brixmor Property Group (BRX) suspended its dividend. In other words, 3M appears to be overvalued relative to its historical norms. Global Partners LP (GLP) reduced its dividend by 25%. B grade indicates a very low probability for a dividend cut. Manning & Napier (MN) suspended its dividend. ARMOUR Residential REIT (ARR) slashed its dividend by 82%. We look at a company’s payout ratios, debt levels, free cash flow generation, recession performance, near-term business trends, and more to generate our scores. But do so in a highly disciplined, increasingly profitable, and very shareholder -friendly way. Dividend Safety Scores range from 0 to 100, and conservative dividend investors should stick with firms that score at least 60. While fast-growing momentum stocks might get the headlines, some of the best long-term investments are often far less exciting dividend growth stalwarts such as 3M (MMM). Inter Parfums (IPAR) suspended its dividend. Urstadt Biddle Properties (UBP) slashed its dividend by 75%. This is due to two major factors. First, under the new tax code, companies will be able to repatriate overseas cash at a lower 15.5% rate (vs the old rate of 35%). First, 3M has excellent capital discipline, meaning it has struck a near perfect balance between returning cash to shareholders but also investing for future growth. Despite Rollins' pest control business being deemed essential during the coronavirus shutdown, management acted out of an abundance of caution, making this cut fairly discretionary and tough to get ahead of. This includes entering China in 1984, where 3M now has nine factories and six R&D centers (it has 60 R&D centers global R&D facilities in total). Golar LNG Limited (GLNG) suspended its dividend. In fact, about 33% of 3M’s sales are from products launched in just the past five years. Plains GP Holdings (PAGP) cut its dividend by 50%. Western Midstream Partners (WES) cut its dividend by 50%. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. This is just one example of 3M’s rigorous data and statistics driven management culture. Elbit Systems Ltd. (ESLT) reduced its dividend by 20%. You can learn more about how Dividend Safety … Dana Incorporated (DAN) suspended its dividend. In fact, the compamny has retrained 77,000 employees and completed 110,000 efficiency improvement programs since 2001, resulting in $17 billion in cost savings. For example, by 2020 analysts expect that fully 50% of sales will come from emerging markets such as China. 3M is currently in the late stages of a corporate restructuring it undertook in 2015 during the last industry recession. The company has grown its dividend for the last 26 consecutive years and is increasing its dividend by an average of 4.18% each year. SandRidge Permian Trust (PER) suspended its dividend. Nam Tai Property (NTP) suspended its dividend. Diebold Nixdorf, Incorporated (DBD) suspended its dividend. Brinker International (EAT) suspended its dividend. Notice: JavaScript is required for this content. Chimera Investment Corporation (CIM) cut its dividend by 40%. Another benefit 3M has is that about 50% of its products are consumables, meaning that customers need to continually repurchase them. Southern Copper Corporation (SCCO) cut its dividend by 50%. Foresight Energy LP (FELPQ) suspended its dividend. The company is constantly improving its existing product range and introducing new ones. This shows that 3M is dedicated to growing organically, rather than risking overpaying for big splashy deals to increase the top line at the risk of lowering overall profitability. First, as explained, the company’s revenues are less volatile than most industrial rivals due to its high proportion of consumable products, which create large amounts of recurring revenue. Blue Capital Reinsurance Holdings Ltd. (BCRHF) suspended its dividend. The good news is that in recent quarters management has begun to gradually deleverage the balance sheet, which is a wise move at this stage of the economic/interest rate cycle. Penske Automotive Group (PAG) suspended its dividend. Cheesecake Factory Incorporated (CAKE) suspended its dividend. Scores range from 0 to 100 and represent each company's dividend safety relative to all other income-producing stocks in the market. First, despite the negative effects of the oil crash in the last two years, 3M’s dividend remains very well covered by both earnings and free cash flow, as seen by its low payout ratios . Electronics & Energy: insulation, splicing and interconnection devices, touch screens, renewable energy components, infrastructure protection equipment. Hexcel Corporation (HXL) suspended its dividend. PBF Energy Inc (PBF) suspended its dividend. Quad/Graphics (QUAD) suspended its dividend. 3M has a Dividend Safety Score of 94, meaning its dividend is extremely safe and dependable. Himax Technologies (HIMX) suspended its dividend. 3M is a highly diversified company with industrial products representing its largest business unit, while healthcare is its most profitable segment by far. 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