Brixmor Property Group (BRX) suspended its dividend. Dunkin' Brands Group (DNKN) suspended its dividend. 3M has also proven its ability to successfully enter and win market share in emerging economies, which are growing at double the rate of mature, developed markets. We analyze 25+ years of dividend data and 10+ years of fundamental data to understand the safety and growth prospects of a dividend. Ready Capital Corporation (RC) cut its dividend by 37.5%. That creates the risk that 3M may end up overpaying for new acquisitions in the future. Western Midstream Partners (WES) cut its dividend by 50%. Molson Coors Beverage Company (TAP) suspended its dividend. Delta's Dividend Safety Score Downgraded to Borderline Safe as Virus Concerns Pressure Airlines March 10, 2020. However, there are two other potential risks to watch for. Walt Disney Company (DIS) suspended its dividend. Consumer Products:  post-it notes, tape, sponges, construction & home improvement products, indexing systems, and adhesives. This creates a far more stable cash flow stream for the company. Here's what we wrote about Shell's dividend in a March 11 note: Methanex Corporation (MEOH) slashed its dividend by 90%. Industrial: tape, sealants, abrasives, ceramics, and adhesives for automotive, electronic, energy, food, and construction companies. 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. This is courtesy of its very low leverage ratio (Debt/EBITDA), very high current ratio (short-term assets/short-term liabilities), and sky-high interest coverage ratio. 2. Rocky Mountain Chocolate Factory (RMCF) 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. 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. Terex Corporation (TEX) suspended its dividend. Contact Us, COPYRIGHT © 2017 Simply Safe Dividends LLC, 3M (MMM): A Dividend King With a Wide Moat, Pfizer’s COVID-19 Vaccine Shows Promise; Spin-off to Execute November 13 With Dividend Adjustment Next Quarter, Dominion’s Lower Dividend and New Business Mix Improve Safety Profile; We Plan to Hold Our Shares, AltaGas’s Falling Leverage Supports Dividend But Firm Will Evaluate Splitting Off Midstream Business, Altria’s Tobacco Business Remains Resilient But Longer-term Growth Uncertainties Linger, some of the most important financial factors, Johnson & Johnson (JNJ): A Dividend King That’s Built to Last. There are three key factors to good capital allocation. Landmark Infrastructure Partners LP (LMRK) cut its dividend by 46%. It’s also much higher than the stock’s historical median of 16.7. Medley Capital Corporation (MCC) suspended its dividend. MMM Dividend History & Description — 3M Co. 3M is a technology company. Ituran Location and Control Ltd. (ITRN) 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. 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. General Motors Company (GM) suspended its dividend. 3M has a Dividend Safety Score of 94, meaning its dividend is extremely safe and dependable. Date Industrial: tape, sealants, abrasives, ceramics, and adhesives for automotive, electronic, energy, food, and construction companies. In fact, in the past five years, 3M has only purchases six small firms and divested $1.4 billion in underperforming non-core assets, making for net acquisitions of just $4.2 billion in that time. This too could increase demand for dollars and thus create a reversal of the positive currency trend we saw in 2017. Despite paying uninterrupted dividends for more than 20 consecutive years. Dividend stocks “safety” can also be measured based on above-average market capitalizations and liquidity, balance-sheet strength (per their Altman Z-score). New Mountain Finance Corporation (NMFC) reduced its dividend by 12%. BlackRock Capital Investment Corporation (BKCC) reduced its dividend by 29%. Strattec Security Corporation (STRT) suspended its dividend. Ensco Rowan (ESV) suspended its dividend. Realty Income pays an annual dividend of $2.81 per share, with a dividend yield of 4.52%. Manhattan Bridge Capital (LOAN) reduced its dividend by 10%. 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. Target (TGT): Can This Dividend King Thrive in the Age of Amazon. This includes numerous small, bolt-on acquisitions, as opposed to large and often overpriced mergers that many of its rivals pursue. Sales growth is great, but at the end of the day, dividends are paid out of cash flow. Diversified Royalty Corp. (BEVFF) reduced its dividend by 15%. After all, it’s a cyclical and highly capital intensive industry, with relatively low barriers to entry. 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%). Southwest Airlines Co. (LUV) suspended its dividend. Natural Resource Partners L.P. (NRP) suspended its 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. A stock’s Dividend Safety Score represents its safety rank relative to all of the other dividend-paying stocks in the market. Dividend Safety Scores range from 0 to 100, and conservative dividend investors should stick with firms that score at least 60. Finally, 3M has a very strong balance sheet, meaning modest amounts of very manageable debt. Chimera Investment Corporation (CIM) cut its dividend by 40%. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. New Senior Investment Group (SNR) cut its dividend by 50%. Noble Energy (NBL) slashed its dividend by 83%. The global industrial conglomerate markets over 60,000 products used in homes, businesses, schools, and hospitals in over 200 countries around the world. learn more about how Dividend Safety Scores are calculated here. Colony Capital (CLNY) suspended its dividend. You own part of a company, thus both profiting and suffering from any success and failure of the company by either capital gains or losses and dividend increases or cuts. 3M has a Dividend Safety Score of 94, meaning its dividend is extremely safe and dependable. Daktronics (DAKT) suspended its dividend. Ternium S.A. (TX) suspended its dividend. For example, European and Japanese investors might continue aggressively buying US Treasury bonds because the yield is much higher than what they can get at home where bond investors still face negative inflation adjusted interest rates. DICK'S Sporting Goods (DKS) suspended its dividend. Veolia Environnement S.A. (VEOEY) cut its dividend by 46%. In other words, 3M appears to be overvalued relative to its historical norms. 3M’s impressive organic growth is courtesy of two things. Citi Trends (CTRN) suspended its dividend. 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). Cato Corporation (CATO) suspended its dividend. The company raised its dividend 2% for the 3/12/2020 payment. 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. Despite paying uninterrupted dividends for more than 20 years and maintaining an earnings payout ratio below 60%, Plagued by weak growth, declining profitability, and too much debt, mall-based retailer. GasLog Ltd. (GLOG) cut its dividend by 67%. CVR Energy (CVI) cut its dividend by 50%. ArcelorMittal (MT) suspended its dividend. Moelis & Company (MC) cut its dividend by 50%. Dividend Safety Scores range from 0 to 100. Expedia Group (EXPE) suspended its dividend. Since tracking the data, companies cutting their dividends had an average Dividend Safety Score below 20 at the time of their dividend reduction announcements. OFS Capital Corporation (OFS) cut its dividend by 50%. 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. Alliance Resource Partners (ARLP) suspended its dividend. Brinker International (EAT) suspended its dividend. PennantPark Investment Corporation (PNNT) cut its dividend by 33%. Tanger Factory Outlet Centers (SKT) suspended its dividend. This is a testament to the company’s ability to continue innovating and adapting in order to maintain such a strong long-term earnings and dividend growth rate. Exantas Capital Corp. (XAN) suspended its dividend. Columbia Sportswear Company (COLM) suspended its dividend. 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. Minnesota Mining and Manufacturing, or 3M, was founded in 1902 in St. Paul, Minnesota. A year after reducing its dividend by 19% to conserve cash. Inter Parfums (IPAR) suspended its dividend. CNX Midstream Partners LP (CNXM) cut its dividend by 80%. Seadrill Partners LLC (SDLPF) suspended its dividend. With this in mind, MMM’s dividend appears very safe with an extremely unlikely risk of being cut. Price: 174.79 | Annualized Dividend: $5.88 | Dividend Yield: 3.4% Ex-Div. BP Prudhoe Bay Royalty Trust (BPT) suspended its dividend. Tailored Brands (TLRD) suspended its dividend. Anworth Mortgage Asset Corporation (ANH) cut its dividend by 44%. The industrial components industry has a lot of factors that might make it seem unattractive for dividend investors. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. The first is that the company has greatly increased its leverage (i.e. Electronics & Energy: insulation, splicing and interconnection devices, touch screens, renewable energy components, infrastructure protection equipment. A grade indicates an extremely low probability of a dividend cut. 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 nearly tripling its quarterly distribution in July 2018, just three months later, The financially distressed shopping center REIT. Vermilion Energy (VET) suspended its dividend. Just Energy Group (JE) suspended its dividend. Second, rising US interest rates will likely make the US a more attractive investing location relative to other economies where interest rates remain far lower and aren’t likely to rise as quickly. ProAssurance Corporation (PRA) slashed its dividend by 84%. Barclays PLC (BCS) suspended its dividend. High dividend payments are great, and rising dividend payments are better, but dividend cuts are the worst.. Not only are your dividend payments reduced, but also stock values fall well ahead of the dividend cut, and often fall even further immediately following the announcement. 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. Blue Capital Reinsurance Holdings Ltd. (BCRHF) suspended its dividend. Hallador Energy Company (HNRG) suspended its dividend. 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). Diebold Nixdorf, Incorporated (DBD) suspended its dividend. 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. National CineMedia (NCMI) cut its dividend by 63%. America First Multifamily Investors (ATAX) slashed its dividend by 77%. Plains GP Holdings (PAGP) cut its dividend by 50%. Grupo Aeroportuario del Centro Norte, S.A.B. 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. 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). Cheesecake Factory Incorporated (CAKE) suspended its dividend. Korea Electric Power Corporation (KEP) suspended its dividend. Notice: JavaScript is required for this content. Viper Energy Partners LP (VNOM) slashed its dividend by 78%. Regardless, our scoring system now handles smaller companies more conservatively, reflecting their generally more concentrated business activities and more dynamic capital allocation policies. For example, by 2020 analysts expect that fully 50% of sales will come from emerging markets such as China. TJX Companies (TJX) suspended its dividend. Another benefit 3M has is that about 50% of its products are consumables, meaning that customers need to continually repurchase them. Halliburton Company (HAL) slashed its dividend by 75%. You can learn more about how Dividend Safety Scores are calculated here. Ladder Capital Corp (LADR) cut its dividend by 41%. This has led to a steady decline in costs of goods sold and rising operating margins and returns on invested capital. Independence Realty Trust (IRT) cut its dividend by 33%. Scores range from 0 to 100. 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. Dividend-Paying Stocks in the S&P 1500 Index Click on a column name to sort. High Country Bancorp (HCBC) cut its dividend by 50%. Scores range from 0 to 100 with scores of 50 being average, scores of 25 or lower considered weak, and scores of 75 or higher considered excellent. R. R. Donnelley & Sons Company (RRD) suspended its dividend. There are three keys to 3M’s amazing dividend growth record and high safety. By … Marriott Vacations Worldwide Corporation (VAC) suspended its dividend. Extended Stay America (STAY) slashed its dividend by 96%. 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. Teekay Corporation (TK) suspended its dividend. U.S. Silica Holdings (SLCA) suspended its dividend. Ross Stores (ROST) suspended its dividend. With this in mind, MMM’s dividend appears Safe with a … About Us | Seeking Alpha Premium Dividend Score. 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. My assumptions were: 1. Next, the company’s impressively stable and growing EPS and FCF per share mean that management is able to steadily grow the payout while still maintaining modest and very safe payout ratios. Golar LNG Limited (GLNG) 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. Imperial Brands PLC (IMBBY) cut its dividend by 33%. Capitala Finance Corp. (CPTA) suspended its dividend. 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. Western Asset Mortgage Capital Corporation (WMC) 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. taken on debt) over the last few years in order to acquire slightly larger companies than it has in the past. Click here for a printer-friendly version of this chart. Grupo Televisa, S.A.B. PacWest Bancorp (PACW) cut its dividend by 58%. Kimco Realty Corporation (KIM) suspended its dividend. Quality Score: Dividend Safety Score: Investment Grade: Today's 5Yr RAER: MMM: 12 (Ultra SWAN) 5 (very safe) A+: 6.21%: Goal: Scores: Scale: Interpretation: Valuation: 4: Good Buy Company doesn't go BK. This is why its industrial segment has historically grown at 1.5x the rate of the global manufacturing components industry. CONSOL Coal Resources LP (CCR) suspended its dividend. Copyright Notice | PBF Logistics LP (PBFX) cut its dividend by 42%. Less than four months after stunning investors with its first dividend cut in October 2018, After rejecting a takeover offer and appointing a new CEO all in the last month, aerospace parts manufacturer. With this in mind, MMM’s dividend appears very safe with an extremely unlikely risk of being cut. Gladstone Capital Corporation (GLAD) reduced its dividend by 7%. Cherry Hill Mortgage Investment Corporation (CHMI) cut its dividend by 33%. Yet, if you buy a stock you own more than “a dividend paying machine”. AGNC Investment Corp. (AGNC) reduced its dividend by 25%. Below is a complete list of all 706 dividend cuts recorded since our scoring system's inception in 2015, as well each company's Dividend Safety Score before the cut was announced. Healthcare: Infection preventions supplies, drug delivery systems, food safety products, healthcare data systems, dental and orthotic products. Hugoton Royalty Trust (HGTXU) suspended its dividend. Medley Management (MDLY) suspended its dividend. C grade indicates a low probability for a dividend cut and/or average safety risk. MMM scored an impressive Safety Score of 98, meaning its dividend is safer than 98% of all other dividend stocks. ARMOUR Residential REIT (ARR) slashed its dividend by 82%. (TV) suspended its dividend. Westpac Banking Corporation (WBK) suspended its dividend. Ruth's Hospitality Group (RUTH) suspended its dividend. The company has five main business segments. With this in mind, MMM’s dividend appears Safe … Abercrombie & Fitch Co. (ANF) suspended its dividend. Covanta Holding Corporation (CVA) cut its dividend by 68%. Kohl's Corporation (KSS) suspended its dividend. Eagle Materials (EXP) suspended its dividend. Cinemark Holdings (CNK) suspended its dividend. 3M Company (MMM) Dividend summary: yield, payout, growth, announce date, ex-dividend date, payout date. Macquarie Infrastructure Corporation (MIC) suspended its dividend. 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. As you can see below, 3M has increased its dividend by 8% annually over the past 20 years. As a result. Black Stone Minerals (BSM) slashed its dividend by 73%. Alliance Data Systems Corporation (ADS) cut its dividend by 67%. Preferred Apartment Communities (APTS) cut its dividend by 31%. EnLink Midstream (ENLC) cut its dividend by 50%. This is due to two major factors. Weingarten Realty Investors (WRI) cut its dividend by 55%. Dividend Safety Grade: B. Following the onset of the coronavirus pandemic, the Indian government mandated that banks could not pay out any dividends in order to preserve capital. In 2017, the US dollar depreciated substantially against most currencies after several years of strong growth. 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. International Game Technology PLC (IGT) suspended its dividend. Global Partners LP (GLP) reduced its dividend by 25%. 3M is a highly diversified company with industrial products representing its largest business unit, while healthcare is its most profitable segment by far. 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. Great Ajax Corp. (AJX) cut its dividend by 45%. Melco Resorts & Entertainment Limited (MLCO) suspended its dividend. Fidus Investment Corporation (FDUS) reduced its dividend by 23%. Cal-Maine Foods (CALM) suspended its dividend. Sculptor Capital Management (SCU) suspended its dividend. Minnesota Mining and Manufacturing, or 3M, was founded in 1902 in St. Paul, Minnesota. Summit Midstream Partners (SMLP) suspended its dividend. USD Partners LP (USDP) cut its dividend by 70%. The other major risk is that 3M’s success overseas, especially in fast-growing emerging markets, means that over time currency risk will increase. Psychemedics Corporation (PMD) suspended its dividend. Schlumberger Limited (SLB) slashed its dividend by 75%. Orion Engineered Carbons S.A. (OEC) suspended its dividend. Banco Latinoamericano de Comercio Exterior (BLX) cut its dividend by 35%. B grade indicates a very low probability for a dividend cut. Last updated on 12/31/2020. Hexcel Corporation (HXL) suspended its dividend. Annaly Capital Management (NLY) reduced its dividend by 12%. Dividend Safety Scores range from 0 to 100. The International Air Transport Association (IATA) now expects the coronavirus to cause the global air transport's 2020 revenue to fall between $63 billion and $113 billion, or … Dynex Capital (DX) reduced its dividend by 13%. Jones Lang LaSalle Incorporated (JLL) suspended its dividend. Dividend Safety Scores range from 0 to 100. PBF Energy Inc (PBF) suspended its dividend. Dividend aristocrats and dividend kings often make excellent long-term income growth investments. Elmira Savings Bank (ESBK) cut its dividend by 35%. Dividend.com: The #1 Source For Dividend Investing. With this in mind, MMM’s dividend appears Safe … Kingstone Companies (KINS) cut its dividend by 37%. This is just one example of 3M’s rigorous data and statistics driven management culture. This means that profitability is very important for a dividend growth stock. Pacific Coast Oil Trust (ROYT) suspended its dividend. Domtar Corporation (UFS) suspended its dividend. DXC Technology Company (DXC) suspended its dividend. 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). The key to 3M’s success is largely thanks to its conservative management and disciplined long-term focus. Marathon Oil Corporation (MRO) suspended its dividend. 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. Las Vegas Sands Corp. (LVS) suspended its dividend. WestRock Company (WRK) cut its dividend by 57%. Holly Energy Partners (HEP) cut its dividend by 48%. Harvest Capital Credit Corporation (HCAP) suspended its dividend. 3M excels here as well, with industry-leading margins and returns on capital. To determine the safety of the dividend different types of a Dividend Safety Score exist. Redwood Trust (RWT) cut its dividend by 61%. Meredith Corporation (MDP) suspended its dividend. Even more impressive than 3M’s six-decade streak of annual dividend increases is the company’s fast pace of payout growth. Harley-Davidson (HOG) slashed its dividend by 95%. Crown Crafts (CRWS) suspended its dividend. Source: Morningstar, FastGraphs, CSImarketing. The result has been a tripling of quality control testing speed, while achieving an 80% decrease in product defects. Grupo Aeroportuario del Pacífico, S.A.B. Chico's FAS (CHS) suspended its dividend. Despite sporting a payout ratio below 30% and growing its quarterly revenue. Disclaimer | Scores range from 0 to 100 and represent each company's dividend safety relative to all other income-producing stocks in the market. Host Hotels & Resorts (HST) suspended its dividend. 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. 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. That means a focus on adhesives, connectors, and cooling systems for driverless and electric cars. Coca-Cola European Partners plc (CCEP) suspended its dividend. Kewaunee Scientific Corporation (KEQU) suspended its dividend. We aim to set the bar for transparency in this industry. Obviously investors in 3M need to keep in mind that all industrial stocks will experience cyclical sales growth or declines over time. 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. Estée Lauder (EL) suspended its dividend. EPR Properties (EPR) suspended its dividend. 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. Cva ) cut its dividend by 29 % for example, 3M ’ s cyclical! 3M appears to be priced in and then some meaning that customers need to continually repurchase them cash flow its... 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