Joseph Sroka, CFA, CMT
Chief Investment Officer, NovaPoint Capital LLC
The Board of Directors of 3M (ticker: MMM) announced an increase in the quarterly cash dividend on the company’s common stock to $1.175 per share from $1.11, a 5.9% increase. This is the 59th consecutive year the company has raised its dividend.
3M is one of the stock holdings in NovaPoint Capital’s Dividend Growth Strategy. Our Strategy seeks to own high-quality, dividend-paying stocks with a track record of annual dividend increases. Our research shows that a portfolio of companies with track records of raising their dividends has, on average, produced total returns higher than both the market and their non-dividend paying peers. The average track record of dividend increases for companies in our current portfolio is thirty-one years.
NovaPoint Capital LLC (@novapointcap) is a Registered Investment Adviser based in Atlanta, Georgia. We manage investment portfolios for institutions and individuals. We also provide sub-advisory services for other investment advisers. More information can be found on our website at: https://novapointcapital.com/
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