Recent Buy – MMM

Today I initiated a position of 3M (MMM) for the first time in my investment life, specifically 18 shares at the average cost of $155.85 ($154.35 per share plus $27 commission). This purchase adds $73.85 to my annual gross dividend income, based on the current $1.025 quarterly dividend.
Recently, Div4Son wrote an excellent analysis of MMM. Let me borrow some from his analysis.

3M is a diversified manufacturer with well known products such as Post-It Notes and Scotch Tape as well less known products such as high-tech LCD films etc. 3M is an international company with more than 60% of 3M’s total revenue coming from outside the United States.
Divisions are listed below:
Healthcare (18.6% of sales)
Industrial & Transportation (30.8% sales)
Consumer & Office (15% of sales)
Display & Graphics(13.5% of sales)
Electro & Communications (9.8% of sales)
Safety, Security & Protection (13.8% of sales)

I love the fact that MMM FCF YoY can easily cover the dividends(Source: Div4Son), which yiled is about 2.6% at the time of this writing.

I thank Greece for giving me an opportunity to purchase MMM shares on the dips.

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