LEHIGH VALLEY, Pa.,
March 17, 2011 /PRNewswire/ -- As
part of Air Products' (NYSE: APD) focus to return value to its
shareholders, the Board of Directors of Air Products today
increased the quarterly dividend on the company's common stock to
58 cents per share from 49 cents, an increase of 18 percent.
Additionally, since December 31,
2010, the company has repurchased about $350 million in shares as part of a previously
authorized share repurchase.
"We believe that investors should share directly in the improved
operating performance of their company," said John McGlade, chairman, president and chief
executive officer. "These actions demonstrate our commitment to
returning cash to shareholders and our confidence in Air Products'
ability to generate strong free cash flow."
The dividend is payable on May 9,
2011 to shareholders of record at the close of business on
April 1, 2011. This marks the 29th consecutive year that
Air Products has increased its dividend payment.
Air Products (NYSE: APD) serves customers in industrial, energy,
technology and healthcare markets worldwide with a unique portfolio
of atmospheric gases, process and specialty gases, performance
materials, and equipment and services. Founded in 1940,
Air Products has built leading positions in key growth markets
such as semiconductor materials, refinery hydrogen, home healthcare
services, natural gas liquefaction, and advanced coatings and
adhesives. The company is recognized for its innovative culture,
operational excellence and commitment to safety and the
environment. In fiscal 2010, Air Products had revenues of
$9 billion, operations in over 40
countries, and 18,300 employees around the globe. 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,
2010.
SOURCE Air Products