Linde plc Ordinary Share - LIN STOCK NEWS

WOKING, UK / ACCESSWIRE / February 28, 2023 / Linde plc (NYSE:LIN) has announced a 9% increase in its quarterly dividend to $1.275 per share, marking the 30th consecutive year of dividend increases. The dividend will be payable on March 28, 2023, to shareholders of record on March 14, 2023. Linde reported $33 billion in sales for 2022 and serves various industries, including chemicals, healthcare, and manufacturing, focusing on sustainability and technology solutions to aid in decarbonization and efficiency. This increase underscores the company's commitment to shareholder returns and financial stability.

Linde (NYSE:LIN) has announced that the Irish High Court hearings regarding its intercompany reorganization are set for February 27, 2023. If approved, the last trading day on the Frankfurt Stock Exchange will be February 28, 2023. Post-reorganization, shareholders will receive one share of the new holding company for each existing share.

The new entity, also named Linde plc, will trade solely on the NYSE under the ticker LIN starting March 2, 2023, with a new ISIN and CUSIP. The reorganization aims to simplify Linde's stock listings.

Linde plc (NYSE:LIN) reported its fourth-quarter and full-year 2022 financial results, highlighting a sales increase to $33.4 billion, up 8% year-over-year. Operating profit reached $5.4 billion, also up 8%, with an adjusted operating profit of $7.9 billion, reflecting a 10% increase. EPS rose by 12% to $8.23, while adjusted EPS increased 15% to $12.29. The company returned $7.5 billion to shareholders. For 2023, Linde expects adjusted EPS guidance of $13.15 to $13.55, indicating 9%-12% expected growth excluding currency effects.

Linde (NYSE:LIN) has entered into a long-term agreement to supply clean hydrogen and industrial gases to OCI's new blue ammonia plant in Beaumont, Texas. The project, with an investment of approximately $1.8 billion, involves building an on-site complex featuring autothermal reforming with carbon capture and a large air separation plant. Linde's facility will provide OCI with 1.1 million tons of blue ammonia annually and sequester over 1.7 million metric tons of CO2 emissions per year. The project is set to start in 2025 and aims to meet rising demand for decarbonization in various sectors.

Linde (NYSE:LIN) recently announced a record year for small on-site projects in 2022, signing 52 new agreements, representing a 21% increase from 2021. This growth was primarily driven by the rising demand for next-generation energy storage, particularly in lithium-ion batteries, alongside strong needs from electronics, manufacturing, and metals sectors. The small projects utilize Linde's proprietary ECOVAR® technology, designed for efficiency and minimal environmental impact. Most projects require investments under $5 million and are expected to contribute to Linde's steady revenue growth.

Linde (NYSE:LIN) announced plans to expand its green hydrogen production capacity in Ontario, California, due to rising demand in the mobility market. The company will construct a five-megawatt PEM electrolyzer, which, in combination with the existing plant, is expected to prevent up to 75,000 metric tons of carbon dioxide emissions annually. This project is part of Linde's broader strategy to implement multiple hydrogen initiatives across the U.S., with the new electrolyzer projected to be operational by the second half of 2024.

Linde plc (NYSE:LIN) has appointed Hugh Grant as a new director, effective January 23, 2023. Grant, a former Chairman and CEO of Monsanto, brings extensive global experience to the board. He will serve on both the Nomination and Governance and Human Capital committees. Grant's leadership and board experience are expected to bolster Linde's strategic direction. The company, with 2021 sales of $31 billion, is a leader in industrial gases and engineering, serving various sectors including healthcare, manufacturing, and energy.

Linde plc (NYSE:LIN) shareholders approved an intercompany reorganization leading to the delisting of its ordinary shares from the Frankfurt Stock Exchange. Preliminary results show approximately 93% of votes favored the delisting at the Extraordinary General Meeting, with around 78% of total shares participating. The delisting is expected to finalize by March 1, 2023, upon completing regulatory approvals. Following the reorganization, shareholders will receive shares of the new holding company, which will retain the name Linde plc and trade under the existing ticker LIN on the NYSE. A full voting breakdown will be provided in an upcoming Form 8-K.

Linde (NYSE:LIN) has been awarded the Sustainable Market Initiative's Terra Carta Seal, recognizing its commitment to sustainable practices. The award, established by HM King Charles III, honors companies aligning their goals with the Terra Carta framework for environmental recovery. Linde is one of only 19 companies to receive the 2022 seal. The company has set ambitious climate goals, including a 2035 GHG emissions reduction target and a 2050 climate neutrality ambition. With $31 billion in sales in 2021, Linde serves varied sectors, including healthcare and energy, emphasizing its role in promoting sustainability.