Why 3M Just Boosted its Dividend

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.

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