With Its Legal Issues Getting Clearer, Is This 6%-Yielding Dividend Stock a Trap or a Screaming Buy?
3M (NYSE: MMM) has gotten hammered over the past few years. Its share price has tumbled nearly 50% over the last three years. That massive decline has driven the industrial giant's dividend yield up to around 6%.
Legal issues have been a big factor weighing on the stock. However, 3M has recently agreed to a couple of multibillion-dollar settlements that could put its legal woes in the rearview mirror. Here's a look at whether they'll put its dividend at risk or are a catalyst to buy the stock.
3M has a stellar track record of paying dividends; the company has paid dividends without stopping for more than a century. Meanwhile, it has increased its payout for the last 64 consecutive years, putting it in the elite group of Dividend Kings.
Source Fool.com
