3M's Financials Are Improving. Is That Enough to Save This Dow Stock's 6%-Yielding Dividend?
3M (NYSE: MMM) has faced a lot of challenges over the past few years that have weighed heavily on its share price, which has driven up its dividend yield. At around 6.3%, 3M currently offers one of the highest dividend yields in the venerable Dow Jones Industrial Average.
On the bright side, 3M's financials have started to improve. Here's a look at whether that will be enough to save the Dow stock from cutting its big-time dividend.
3M recently reported its fourth-quarter and full-year results for 2023. "The fourth quarter capped a strong year for 3M," said CEO Mike Roman in the earnings press release. He pointed out that the industrial giant "executed our priorities and delivered on our commitments -- including expanding underlying operating margins and cash flow."
Source Fool.com
