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HomeMy WebLinkAbout2014 12-16 3M shares rise on jump in dividend STAR TRIBUNE StarTribune 3M shares rise on jump in dividend Article by Dee DePass Star Tribune December 16,2014-10:39 AM 3M Co.announced Tuesday that it will raise its quarterly dividend 20 percent next year,sending its shares higher. During an investor meeting in New York,executives of the Maplewood-based conglomerate also said that 2015 3M on Tuesday raised Its dividend 20%for 2015 and earnings are expected to reach$8 to$8.30 a share and executives laid out growth targets that were in line 2015 sales are expected to grow 3 to 6 percent with investor expectations. MARLIN LEVISON,Star Tribune 3M shares were up 1 percent in morning trading,the second-biggest gain of the 30 stocks in the Dow Jones industrials average. The increase in the dividend,to$1.025 a share from 85.5 cents,makes 2015 the 57th consecutive year for dividend increase by 3M. The company will issue its full-year results for 2014 late next month.For the first nine months of 2014,3M's revenues grew 3.4 percent to$24.1 billion.Nine-month earnings were$3 8 billion,or$5 67 a share. 3M finished 2013 with$30.8 billion in annual sales and$4.6 billion in earnings. Dee DePass•612-673-7725 ©2014 Star Tribune