After a period of six years, you could expect a $10,000 investment in this basket of dividend stocks to earn at least $2,000 in passive dividend income.
Right now, 3M (NYSE: MMM) and Stanley Black & Decker (NYSE: SWK) are both trading with historically high yields, suggesting they are cheaply priced. Stanley Black & Decker's yield is around 3.3% today. 3M's dividend yield is roughly 4%.
3M's (NYSE: MMM) spin-off announcement last month caught the market by surprise and inevitably raised comparisons with General Electric's (NYSE: GE) impending breakup. Both companies plan to spin off their healthcare businesses in 2023 (with GE also planning to spin off its power and renewable energy businesses together in 2024) to unlock value for shareholders. Let's look at 3M's plans and what they mean for the investment case for the stock.