LEHIGH VALLEY, Pa., Jan. 24, 2019 /PRNewswire/ -- For the 37th consecutive year, the Board of Directors of Air Products (NYSE:APD) has increased the quarterly dividend on the company's common stock, reflecting continued confidence in Air Products' financial strength, significant cash flows and growth outlook.
Representing a more than five percent increase, from $1.10 to $1.16 per share, the dividend is payable on May 13, 2019 to shareholders of record at the close of business on April 1, 2019.
Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi said, "Air Products is in a very strong financial position, and our business generates significant cash flow. This allows us to continue to invest capital into value-creating projects to profitably grow the company while also continuing to return cash to our shareholders. We are proud that our dividend is expected to return $1 billion in cash to our shareholders over the next year."
About Air Products
Air Products (NYSE:APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 16,000 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.
SOURCE Air Products