Blue Chip Garnering Increased Attention as Dow Hits Record High
RDINvesting Provides Stock Research on 3M and United Technologies
NEW YORK, NY -- (Marketwire) -- 03/11/13 -- Blue chips have garnered increased attention from investors in 2013 as the Dow Jones Industrial Average have hovering near an all-time high. Last week, the Dow Jones Industrial Average closed at 14253.77, topping its previous high of 14164.53, which was set in October 2007. Research Driven Investing examines investing opportunities in Blue Chips and provides equity research on 3M Co. (NYSE: MMM) and United Technologies Corporation (NYSE: UTX).
Dividend payments from Dow Jones Industrial Average constituents have experienced a steady rebound since falling sharply during the financial crisis. Trailing 12-month dividends per share for the 30 companies that make up the Dow was a combined $348.61 as of the end of January. The total was the highest level seen since January 2008, and just short of the all-time high of $372.46 set in May 2007, according to FactSet. Data from FactSet showed blue chips held roughly $487.9 billion in cash at the end of 2012, an increase of 70 percent when compared to the end of 2008.
"When you look at the overall dividends, yes, they're [near] all-time highs. But the ability for companies to increase dividends from here remains very strong," said Dreyfus Corp.'s Chief Investment Officer, Chris Sheldon.
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3M produces thousands of imaginative products, and is a leader in scores of markets - from health care and highway safety to office products and abrasives and adhesives. The company recently increased their quarterly dividend eight percent to $0.635 for a dividend yield of roughly 2.4 percent. 3M's shares have surged over 13 percent in 2013.
United Technologies is a diversified company that provides high technology products and services to the building and aerospace industries. The company currently offers investors an annual dividend of $2.14 a share, for a dividend yield of approximately 2.30 percent. Shares of United Technologies have gained roughly 12 percent year-to-date.
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