For the 40th Consecutive Year, Air Products Increases Quarterly Dividend

Rhea-AI Summary

Air Products (NYSE: APD) has announced a quarterly dividend increase of 12 cents per share, raising it from $1.50 to $1.62. This marks the company's 40th consecutive year of increasing dividends, underscoring its strong cash flow and commitment to shareholder value. The new dividend will be payable on May 9, 2022, to shareholders of record by April 1, 2022. Air Products expects to return over $1.4 billion to shareholders in 2022, bolstering confidence in its ongoing projects focused on decarbonization and energy transition.

Positive

• Quarterly dividend increased by 12 cents to $1.62 per share.
• 40th consecutive year of dividend growth.
• Expected to return over $1.4 billion to shareholders in 2022.

Negative

• None.

LEHIGH VALLEY, Pa., Feb. 3, 2022 /PRNewswire/ -- The Board of Directors of Air Products (NYSE: APD) has increased the quarterly dividend on the Company's common stock by 12 cents per share—from $1.50 to $1.62 per share—representing an eight percent increase.

This marks the 40th consecutive year that Air Products has increased its dividend payment. The dividend is payable on May 9, 2022 to shareholders of record at the close of business on April 1, 2022.

Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi said, "With our strong cash flow position and focus on creating shareholder value, we continue to increase the dividend while also executing on our many growth opportunities through projects that support decarbonization and which are driving the energy transition. This latest dividend increase marks our 40th consecutive year of dividend payment increases and is expected to see us returning over $1.4 billion to our shareholders in 2022."

About Air Products 
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 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 low- and zero-carbon hydrogen projects supporting global transportation and the energy transition.

The Company had fiscal 2021 sales of $10.3 billion from operations in over 50 countries and has a current market capitalization of about $65 billion. More than 20,000 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 or follow us on LinkedIn, Twitter, Facebook or Instagram.

 

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SOURCE Air Products

FAQ

What is the new dividend amount for Air Products (APD)?

The new dividend amount is $1.62 per share.

When will the new dividend for Air Products be paid?

The new dividend will be payable on May 9, 2022.

How long has Air Products been increasing its dividend?

Air Products has increased its dividend for 40 consecutive years.

What is the expected shareholder return for Air Products in 2022?

Air Products expects to return over $1.4 billion to shareholders in 2022.