LEHIGH VALLEY, Pa.,
Jan. 23, 2020 /PRNewswire/ --
The Board of Directors of Air Products (NYSE: APD) has
increased the quarterly dividend on the company's common stock by
18 cents per share—from $1.16 to $1.34 per
share—representing the largest dividend increase in the company's
history.
The dividend is payable on May 11,
2020 to shareholders of record at the close of business on
April 1, 2020.
Air Products Chairman, President and Chief Executive Officer
Seifi Ghasemi said, "The
Board's decision to increase the dividend by over 15 percent
reflects continued confidence in Air Products' strong financial
position and cash flows. In fiscal 2019, we paid nearly
$1 billion dollars of dividends to
our shareholders while still having significant distributable cash
flow for high return industrial gas investments. We want to
continue creating shareholder value through increasing dividends
and strategic capital deployment."
This marks the 38th 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 nearly 80 years. Focused on serving
energy, environment and emerging markets, the Company provides
essential industrial gases, related equipment and applications
expertise to customers in dozens of industries, including refining,
chemical, metals, electronics, manufacturing, and food and
beverage. Air Products is also the global leader in the supply of
liquefied natural gas process technology and equipment. The Company
develops, engineers, builds, owns and operates some of the world's
largest industrial gas projects, including gasification projects
that sustainably convert abundant natural resources into syngas for
the production of high-value power, fuels and chemicals.
The Company had fiscal 2019 sales of $8.9
billion from operations in 50 countries and has a current
market capitalization of about $50
billion. More than 17,000 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 address the challenges
facing customers, communities, and the world. For more information,
visit www.airproducts.com.
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SOURCE Air Products