3M Co. announced Tuesday that it will raise its quarterly dividend 20 percent next year, a smaller jump than this year but one that boosted its stock on a day when the broader market fell.

At a meeting with investors and analysts in New York, executives of the Maplewood-based conglomerate also said that 2015 earnings are expected to reach $8 to $8.30 a share and 2015 sales are expected to grow 3 to 6 percent. The firm is expected to finish this year with a profit of $7.48 a share.

3M shares rose 1.4 percent to $159.05, the second-biggest gain of the 30 stocks in the Dow Jones industrials average. That index fell .65 percent on Tuesday.

The increase in the dividend, to $1.025 a share from this year's 85.5 cents, makes 2015 the 57th consecutive year 3M has raised its quarterly payout. In 2013, the company's dividend was 63.5 cents.

The company, whose products include Scotch tape, sponges and health care and security devices, will issue its full-year results for 2014 next month. For the first nine months of 2014, 3M's revenue 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.

Jim Corridore, industrials equity analyst for S&P Capital IQ, said 3M's guidance for 2015 is right in line with his expectations, and maybe a little bit higher when it comes to the revenue projections. "We like their growth prospects," Corridore said.

While 3M's solar and energy business is likely to be hurt by slumping oil prices next year, 3M's other four divisions should do well, he said. 3M's major business divisions include industrial, safety and graphics, consumer, electronics and energy and health care, which has the highest margins and fastest growth of any division in the company.

Corridore added that 3M's decision to increase its dividend was not unexpected. The size of the dividend boost, however, "was generous at 20 percent." The change follows 3M's 35 percent increase in dividends in 2014.

At the meeting, 3M Chief Executive Inge Thulin said that the company will continue to develop new products and to spur better distribution plans across Europe. The company is on track with its five-year growth plan that started last year and runs through 2017, Thulin said.

Dee DePass • 612-673-7725