The Board of Directors of Air Products (NYSE:APD) has increased the quarterly dividend on the company’s common stock by 16 cents per share—from $1.34 to $1.50 per share—representing a 12 percent increase.
This marks the 39th consecutive year that Air Products has increased its dividend payment. The dividend is payable on May 10, 2021 to shareholders of record at the close of business on April 1, 2021.
Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi said, “We continue to operate from a position of significant financial strength and are excited about our tremendous opportunities to invest in strategic industrial gas projects around the world. At the same time, we remain committed to creating shareholder value through increasing dividends, underpinned by our strong cash flows. In fiscal 2020, we were proud to return about $1.1 billion to our shareholders through our dividend while having significant distributable cash flow for high-return industrial gas investments.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for 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; carbon capture projects; and world-scale carbon-free hydrogen projects supporting global transportation and the energy transition.
The Company had fiscal 2020 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $60 billion. More than 19,000 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 airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.