Recent buy – 3M Company – September 2019, a new buy for my Vrijheid Fonds.
The markets are still volatile. And this year I already took advantage of a dip in the market for 3M. This week I saw again a nice opportunity to average down on this great Dividend Aristocrat. And what is not to like about this industry conglomerate. 2019 hasn’t been good for 3M so far. In their recent earnings report I saw weakness in most divisions. The valuation of 3M is now more in line with their historical average. Why I bought some more shares you ask? Well there not many great companies that can match 3M’s dividend growth history. And 3M has a lot of patents and are still able to grow these numbers.
Last year I did an analysis of 3M. If you haven’t read my analysis, please take a look at this post about 3M Company (MMM) Stock Analysis Pollie Style – 2018.
On September 25tjh I bought 4 additional shares of MMM at $164.13 per share (incl. fees).
With this buy I added a little bit more thant €4 (after taxes) of projected dividend to my Vrijheid Fonds for 2019. Now I own 29 shares of 3M and this position produces € 129 ($142) after taxes in dividend income annually.
Again, a small step in my journey and one-step closer to my goal. Has anyone else invested in this company recently? I appreciate feedback greatly!
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