5 Highest-Yielding Dividend Aristocrats for 2022

2. 3M Company (NYSE:MMM)

Dividend Yield as of May 6: 4.03%

Number of Hedge Fund Holders: 41

3M Company (NYSE:MMM) is a diversified American technology company that operates through four segments – Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. 2022 marks the 64th consecutive year of dividend increases by 3M Company (NYSE:MMM). 

On February 8, 3M Company (NYSE:MMM) declared a $1.49 per share quarterly dividend, a 0.7% increase from its last dividend of $1.48. The dividend was distributed on March 12, to shareholders of record on February 18. 3M Company (NYSE:MMM)’s dividend yield on May 6 stood at 4.03%. 

3M Company (NYSE:MMM) reported on April 26 its earnings for the first fiscal quarter of 2022. The company posted an EPS of $2.65, topping market estimates by $0.34. The $8.83 billion revenue also surpassed analysts’ predictions by $81.35 million. The GAAP EPS of $2.26, however, missed Street forecasts by $0.05. 

Argus analyst John Eade downgraded 3M Company (NYSE:MMM) to Hold from Buy on April 28. The analyst cited the company’s Q1 earnings miss that came in light of underperformance over the last quarter. He added that while 3M Company (NYSE:MMM) delivers value with its 4.1% dividend yield, he “has doubts” about its earnings outlook.

According to Insider Monkey’s Q4 data, 41 hedge funds were bullish on 3M Company (NYSE:MMM), compared to 46 funds in the earlier quarter. Ken Fisher’s Fisher Asset Management is the leading shareholder of the company, with 5.7 million shares worth over $1 billion.