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Air Products Declares Quarterly Dividend of $1.16 per Share

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APD declares a regular cash dividend

In a press release on May 14, Air Products and Chemicals’ (APD) board announced its regular quarterly cash dividend for the second quarter of 2019. Investors that hold Air Products and Chemicals stock as of the close of business on July 1 are eligible for this dividend. The company is expected to pay the dividend on August 12.

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Air Products and Chemicals declared a dividend of $1.16 per share, which represents an increase of ~5.5% on a YoY basis compared to the previous quarter. However, the dividend rate is flat compared to the previous quarter. Linde (LIN), Celanese (CE), and Eastman Chemical (EMN) have declared second-quarter dividends of $0.875, $0.62, and $0.62, respectively.

At the end of APD’s second quarter, the number of outstanding Air Products and Chemicals shares stood at 221.4 million. Assuming that the company doesn’t buy back any shares until the record date, it will be spending $256.82 in the form of dividends. As of May 14, APD’s dividend yield stands at 2.25%.

Stock price update

On May 14, the stock was up by 0.6% and closed at an all-time high of $205.77. On a year-to-date basis, the stock has gained 28%. Its peer Linde (LIN) has gained 15.7%. APD has outperformed the broader market representative, the S&P 500 (SPY), which has gained 14.0% during the same period. APD’s 14-day RSI of 59 indicates that the stock is neither overbought nor oversold.

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