Dividend Increase - Air Products and Chemicals, Inc. (APD)

 

Thursday, February 3rd the Board of Directors of Air Products and Chemicals, Inc. (APD) announced a quarterly dividend increase of from $ 1.50 to $ 1.62 per share that’s payable May 9, 2022 to holders of record April 1, 2022. This represents an 8.0% increase over the last quarterly dividend.

 

Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi said, “With our strong cash flow position and focus on creating shareholder value, we continue to increase the dividend while also executing on our many growth opportunities through projects that support decarbonization and which are driving the energy transition. This latest dividend increase marks our 40th consecutive year of dividend payment increases and is expected to see us returning over $1.4 billion to our shareholders in 2022.”

 

With current price $ 259.36 (yesterday's close), this raise brings their dividend yield to 2.50%.

 

Air Products is a Dividend Champions with a 40 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 12.7, 11.2, 11.5 and 10.1 (Dividend Champions.xls)

 

 

Since I own 10 shares of APD, this will increase my portfolio's projected annual net dividend income by $ 3.58.

 

I was a little disappointed with the size of the increase, I was expecting around 10%, but I am happy to accept this as well.

 

This is the first dividend increase I've received from Air Products since initiating a position in March 2021.

 

This increase raises my YOC to 2.27%.

 

 

Summary of 2021 Dividend Increases / Cuts

 

 

Click here to see my portfolio holdings.

 

You can follow the development of my dividends here.

 

Full Disclosure: Long APD

 

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