3M provides 2015 earnings outlook in range of analysts' estimates; raises dividend 20 percent

StocksAssociated Press

3M anticipates its 2015 earnings will be in range of analysts' estimates. The diversified manufacturer is also raising its dividend by 20 percent for 2015's first quarter.

3M, which makes Post-it notes, industrial coatings and ceramics, said Tuesday that it expects 2015 earnings between $8 and $8.30 per share. Analysts polled by FactSet predict earnings of $8.20 per share.

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3M Co. also said that it's on track to achieve its long-term financial targets. It is looking to increase its earnings per share 9 percent to 11 percent per year, on average, for 2013 through 2017.

3M, which is based in St. Paul, Minnesota, declared a dividend of $1.025 per share for 2015's first quarter. The dividend will be paid on March 12 to shareholders of record on Feb. 13. Its previous dividend was 85.5 cents per share.

3M will be holding its 2015 outlook meeting in New York on Tuesday.