APD Air Products and Chemicals Inc

By Colin Kellaher

Air Products & Chemicals Inc. (APD) on Thursday said its board raised the quarterly dividend by 15.5% to $1.34 from $1.16.

The new payout, equal to $5.36 a year, represents an annual yield of about 2.25% based on Wednesday's closing price of $238.04, up from 1.95%.

The Allentown, Pa., industrial gases company said the increased dividend is payable May 11 to shareholders of record April 1.

Air Products said the dividend increase in the largest in the company's history and marks the 38th consecutive year that it has boosted the payout.

Shares of Air Products fell 1.4% to $234.76 in early trading Thursday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 23, 2020 10:14 ET (15:14 GMT)

Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Mar 2024 to Apr 2024

Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Apr 2023 to Apr 2024