The dividend hike that 3M (NYSE:MMM) recently announced is impressive for a few reasons. At 35%, the raise dwarfs last year's increase of just 8%. It also marks the 56th consecutive year that 3M has boosted its dividend and the 97th year in a row that it has paid a dividend to shareholders.
In the video below, Fool contributor Demitrios Kalogeropoulos argues that 3M's improving business gives the Dow giant ample room to afford this higher payout. And, while the stock has gotten more expensive in 2013, investors can still expect tens of billions of dollars in returns to shareholders over the coming years.
Fool contributor Demitrios Kalogeropoulos has no position in any stocks mentioned. The Motley Fool recommends 3M. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.