Air Products & Chemicals increases dividend for 34th consecutive year

Dividend Aristocrat Air Products & Chemicals (APD) will raise its dividend by 6.2%.

The quarterly dividend will be raised to $0.86 per share.

"As Air Products has continued to drive substantial improvements in profitability, our priorities for the use of the significant cash we generate have remained the same," said Chairman, President and CEO Seifi Ghasemi. "Those priorities include maintaining our A credit rating, investing in organic growth and accretive acquisitions, continuing to increase the dividend, and finally, if there is excess cash available and the market conditions are right, returning it to shareholders in the form of share buybacks. The Board's decision to increase the dividend for the 34th consecutive year reflects the continued financial strength of the company, underpinned by the stability and security of our long-term contracts," he added.

Source: Air Products & Chemicals

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