Shares of 3M led the Dow Jones industrial average Tuesday after the company said it will raise its quarterly dividend by 35 percent.
3M, which makes products including Post-it notes, glues, adhesives and reflective coatings for signs, said it is raising its dividend to 85.5 cents per share from 63.5 cents per share. The dividend will be paid March 12 to shareholders of record on Feb. 14. The company had about 665.2 million outstanding shares as of Nov. 29.
The company also said that it expects 2014 earnings of $7.30 to $7.55 per share. Analysts polled by FactSet predict earnings of $7.40 per share. 3M is looking for earnings per share to rise 9 percent to 11 percent in the 2013-17 period.
– Associated Press