The Board of Directors of Air Products (NYSE:APD) has increased the quarterly dividend on the company’s common stock by 16 cents per share—from $1.34 to $1.50 per share—representing a 12 percent increase.
This marks the 39th consecutive year that Air Products has increased its dividend payment. The dividend is payable on May 10, 2021 to shareholders of record at the close of business on April 1, 2021.
Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi said, “We continue to operate from a position of significant financial strength and are excited about our tremendous opportunities to invest in strategic industrial gas projects around the world. At the same time, we remain committed to creating shareholder value through increasing dividends, underpinned by our strong cash flows. In fiscal 2020, we were proud to return about $1.1 billion to our shareholders through our dividend while having significant distributable cash flow for high-return industrial gas investments.