Quarterly Dividend Increased by 16 Percent to $1.10
January 25, 2018 Lehigh Valley, Pa.
The Board of Directors of Air Products (NYSE:APD) has increased the quarterly dividend on the company’s common stock to $1.10 per share from 95 cents, representing a 16 percent increase.
The dividend is payable on May 14, 2018 to shareholders of record at the close of business on April 2, 2018.
Seifi Ghasemi, chairman, president and chief executive officer of Air Products, said, “The Board’s decision to significantly increase the dividend reflects continued confidence in the financial strength of Air Products. Our annual dividend is now $4.40 per share, which equates to returning nearly $1 billion per year to our shareholders,” he said.
This marks the 36th consecutive year that Air Products has increased its dividend payment.
About Air Products
Air Products (NYSE:APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company’s core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2017 sales of $8.2 billion from continuing operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 15,000 passionate, talented and committed employees from a diversity of backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities and the world. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company’s Form 10K for its fiscal year ended September 30, 2017.