WCCO EYE4 LOGO WCCO Radio wcco-eye-white01, ww color white

Local

3M Boosts Quarterly Dividend By 35 Percent

View Comments
3M, generic, logo

(credit: Karen Bleier/AFP/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. Full Interview: Jesse Ventura Talks After Trial
  2. 4 Things To Know For 7/30
  3. Remarkable Softball Player Gets A Look At His Dream Job
  4. Lake Calhoun Hosting Paddle For Humanity
  5. The Lowdown: 'N Sync Album & 'Sharknado 2'

ST. PAUL, Minn. (AP) — 3M is raising its quarterly dividend by 35 percent, sending its share price higher in premarket trading.

The company, which makes items including Post-it notes, reflective coatings for signs, and glues and adhesives, said it is raising its dividend to 85.5 cents per share from 63.5 cents per share. The dividend will be paid on March 12 to shareholders of record on Feb. 14.

3M Co. had about 665.2 million outstanding shares as of Nov. 29.

The company also announced that it expects 2014 earnings of $7.30 to $7.55 per share. Analysts polled by FactSet predict earnings of $7.40 per share.

It is looking for earnings per share to rise 9 percent to 11 percent for the 2013 to 2017 period.

3M’s stock gained $2.84, or 2.2 percent, to $130.50 in premarket trading about 20 minutes before the market open.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus