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In case you missed it, 3M Co. (NYSE: MMM) became the most recent Dow Jones Industrial Average member to boost its dividend. It also raised its share buyback ambitions. Investors should be aware that the higher and higher dividend trends of 2011 and 2012 will continue in 2013. That is part of the reason that the DJIA likely will rise to above our own 14,590 peak target for 2013.

We see other companies lifting their dividends along the same lines as 3M, and that quarterly payout was raised almost 8% from $0.59 to $0.635. It also plans to boost the stock buyback plan to up to a total of $7.5 billion with no expiration date.

Just yesterday we reported on expected dividend hikes in the coming days and weeks from other DJIA stocks like Coca-Cola Co. (NYSE: KO), J.P. Morgan Chase & Co. (NYSE: JPM) and Wal-Mart Stores Inc. (NYSE: WMT). A serious potential dividend hike may finally come for Bank of America Corp. (NYSE: BAC), although we are not formally ready to capitulate to the side that the regulatory powers will allow it to grow the dividend to much more than a 1% yield versus 0.3% or so now.

Chevron Corp. (NYSE: CVX) and Exxon Mobil Corp. (NYSE: XOM) are expected to continue their dividend wars, although that may be about 60 days or so away.

More on DJIA dividend hikes can be found here.