Friday, March 19, 2010

Air Products Increases Dividend 9%

On Thursday Air Products & Chemicals (APD) announced a nearly 9% increase in the company's second quarter dividend. The new quarterly dividend increases to 49 cents per share versus 45 cents per share in the same quarter last year. The payout ratio is estimated at 40% based on September 2010 EPS estimates of $4.92. The 5-year average payout ratio is approximately 42%. The company carries an S&P Earnings & Dividend Quality Ranking of A and the company is one of S&P's Dividend Aristocrats.

As is always the case, investors need to perform their own due diligence before investing in any of the companies mentioned on this site. As it relates to APD, the company has a hostile takeover bid on the table for Airgas (ARG).

Disclosure: long interest in APD

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