Welcome to our September 2024 dividend portfolio update. This month was a continuation the last couple of months with the markets eventually heading higher after a sluggish start.
The only difference this month was that we hit a point on one of our positions where it was time to cut bait and run. That position was 3M (MMM). After looking at some of the personal finance folks on social media it seems we were not the only ones looking for some sort of exit point on this stock.
We entered this position in 2021 and rode the downfall through lawsuits, lower earnings and eventually a dividend cut. The company finally seems to be getting on better footing, but it no longer fits in with our plan. With the stock making highs it was time to sell out.
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