Air Products & Chemicals Raises Dividend 11.8%

Air Products & Chemicals (APD) announced an 11.8% increase in the company's second quarter cash dividend to 38 cents per share versus 34 cents per share in the same quarter last year.

• In 2006, the company's dividend increase was only 6%.

• The five year average dividend growth rate is 13%
  

• The dividend yield on the new dividend rate increases to 2.07% versus the prior yield of 1.86%.

• The payout ratio on 2007 estimated earnings of $4.11 equals 36%. The five year average payout ratio equals 37%.
  

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