MMM - 3 Dow Dividend Stocks That Are Too Cheap to Ignore
The Dow Jones Industrial Average is finally having its time in the sun. Although it is down 9.7% year to date, that is far better than the Nasdaq Composite (down 32.5%) and the S&P 500 (down 20.1% ) over the same period. If the Dow does end up outperforming the Nasdaq Composite for the full-year 2022, it will be the first time since 2016.
The simple reason why Dow components are doing well right now is that these companies tend to be industry-leading businesses with a track record for outlasting market downturns. In contrast, many components of the Nasdaq Composite are heavily dependent on low interest rates and fast growth.
Caterpillar (NYSE: CAT) , Dow Inc. (NYSE: DOW) , and 3M (NYSE: MMM) stand out as three particularly good Dow stocks to buy now. What's more, investing in equal parts of each company produces a dividend yield of 4.3%. That yield is above the risk-free three-month Treasury Bill rate of 4% -- offering compelling passive income potential.
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3 Dow Dividend Stocks That Are Too Cheap to Ignore