APD raises dividend payout by +18% ..
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LEHIGH VALLEY, Pa., March 17, 2011 /PRNewswire/ -- As part of Air Products' (NYSE:APD - News) focus to return value to its shareholders, the Board of Directors of Air Products today increased the quarterly dividend on the company's common stock to 58 cents per share from 49 cents, an increase of 18 percent.
Additionally, since December 31, 2010, the company has repurchased about $350 million in shares as part of a previously authorized share repurchase.
"We believe that investors should share directly in the improved operating performance of their company," said John McGlade, chairman, president and chief executive officer. "These actions demonstrate our commitment to returning cash to shareholders and our confidence in Air Products' ability to generate strong free cash flow."
The dividend is payable on May 9, 2011 to shareholders of record at the close of business on April 1, 2011. This marks the 29th consecutive year that Air Products has increased its dividend payment.
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