Air Products raises dividend for 35th consecutive year

Air Products & Chemicals (APD) will raise its dividend by 10.5%.

The quarterly dividend will be raised from $0.86 to $0.95 per share, marking 35 consecutive years of dividend increases by Dividend Aristocrat Air Products & Chemicals.

The dividend is payable on May 8, 2017 to shareholders of record at the close of business on April 3, 2017.

Seifi Ghasemi, chairman, president and chief executive officer of Air Products, said, "The Board's decision to significantly increase the dividend reflects continued confidence in the financial strength of Air Products, including our strong cash flow. Underpinned by our A credit rating and capability to strategically deploy capital following the separation of our Materials Technologies businesses, we remain confident in the tremendous growth opportunities to invest in our core industrial gases business."

Air Products has raised its dividend for 35 straight years (picture: company website)

Air Products is a world-leading Industrial Gases company in operation for over 75 years. The Company's core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment.