3 Stocks to Supplement Your Social Security Checks | Smart Change: Personal Finance

DTE Energy (NYSE: DTE) serves 2.2 million electric utility customers and 1.3 million natural gas utility customers, all of whom are in Michigan. The company had flat revenues over the past three years, and its management team is forecasting earnings in 2021 that are roughly equal to last year’s. There’s basically no opportunity for growth here, but stability is the real draw.

The stock is less volatile than the broader market, helping it endure bear markets, and at current share prices offers a healthy 3.2% forward dividend yield. With a dividend payout ratio of only 58% and a 3.14 interest coverage ratio, investors can feel confident that the quarterly payouts are secure.

3M has stuck to its dividend-raising habit

3M (NYSE: MMM) is a $100 billion company that produces more than 60,000 products across a range of industries, including household goods, healthcare, industrial production, personal safety, and transportation. It uses its scale and a large R&D budget to maintain its leadership position within much of that portfolio.

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