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3M delivers higher dividend and ambitious growth targets

December 18, 2013

Diversified company 3M (Attractive*) increased its quarterly dividend by 35% to 85.5 cents a share. Furthermore, the manufacturer with a product line spanning electronics to dental braces, projected a 2014 profit in a range whose top end exceeded analysts’ estimates. Earnings will be $7.30-7.55 a share next year, compared with a median estimate of $7.40. Shares of 3M closed nearly 3% higher in New York. The shares gained about 37% this year.