Air Products Increases Quarterly Dividend 26 Percent
May 20 2004 - 3:00PM
PR Newswire (US)
Air Products Increases Quarterly Dividend 26 Percent LEHIGH VALLEY,
Pa., May 20 /PRNewswire-FirstCall/ -- The Board of Directors of Air
Products today increased the quarterly dividend on the company's
common stock to 29 cents per share from 23 cents. This represents
an increase of 26 percent. The dividend is payable on August 9,
2004 to shareholders of record at the close of business on July 1,
2004. "Today's increase is further evidence our strategies are
working and delivering greater value to our shareholders. This
action is a signal of the confidence we have in our ability to
profitably grow our business and increase our return on capital,"
said John Jones, chairman and chief executive officer. "We have
very strong cash flows, driven by our stable businesses, capital
discipline and the diverse markets and geographies we serve." Mr.
Jones noted that Air Products has a longstanding commitment to
dividend growth, with 22 years of consecutive increases. Air
Products (NYSE:APD) serves customers in technology, energy,
healthcare and industrial markets worldwide with a unique portfolio
of products, services and solutions, providing atmospheric gases,
process and specialty gases, performance materials and chemical
intermediates. 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. With annual revenues of
$6.3 billion and operations in over 30 countries, the company's
18,500 employees build lasting relationships with their customers
and communities based on understanding, integrity and passion. For
more information, visit http://www.airproducts.com/. ***NOTE: This
release may contain forward-looking statements. Actual results
could vary materially, due to changes in current expectations.
DATASOURCE: Air Products CONTACT: Media Inquiries: Katie McDonald,
+1-610-481-3673, e-mail: ; or Investor Inquiries: Alex Masetti,
+1-610-481-7461, e-mail: , both of Air Products Web site:
http://www.airproducts.com/
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