Marks
42nd Consecutive Year of Quarterly Dividend
Increases on Company's Common Stock
LEHIGH
VALLEY, Pa., Jan. 25,
2024 /PRNewswire/ -- The Board of Directors of Air
Products (NYSE:APD) has increased the quarterly dividend on the
Company's common stock to $1.77 per
share. This marks the 42nd consecutive year the
Company has increased its dividend payment.
The dividend is payable on May 13,
2024 to shareholders of record at the close of business on
April 1, 2024.
Air Products Chairman, President and Chief Executive Officer
Seifi Ghasemi said, "We remain
committed to striking the right balance of returning cash to our
shareholders and investing in our growth opportunities. We expect
to return approximately $1.6 billion
to our shareholders in 2024, extending our track record of more
than 40 years of increasing the dividend, while continuing to
execute high-return industrial gas and clean hydrogen projects that
advance sustainability and the energy transition. This balanced
approach to capital allocation will allow us to meet our capital
needs while maintaining our A/A2 ratings."
About Air Products
Air Products (NYSE:APD) is a
world-leading industrial gases company in operation for over 80
years focused on serving energy, environmental, and emerging
markets. The Company has two growth pillars driven by
sustainability. Air Products' base business provides essential
industrial gases, related equipment and applications expertise to
customers in dozens of industries, including refining, chemicals,
metals, electronics, manufacturing, and food. The Company also
develops, engineers, builds, owns and operates some of the world's
largest clean hydrogen projects supporting the transition to low-
and zero-carbon energy in the heavy-duty transportation and
industrial sectors. Additionally, Air Products is the world leader
in the supply of liquefied natural gas process technology and
equipment, and provides turbomachinery, membrane systems and
cryogenic containers globally.
The Company had fiscal 2023 sales of $12.6 billion from operations in
approximately 50 countries and has a current market
capitalization of about $60 billion.
Approximately 23,000 passionate, talented and committed employees
from diverse backgrounds are driven by Air Products' higher purpose
to create innovative solutions that benefit the environment,
enhance sustainability and reimagine what's possible to address the
challenges facing customers, communities, and the world. For more
information, visit www.airproducts.com or follow us on
LinkedIn, X, Facebook or Instagram.
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SOURCE Air Products