Air Products & Chemicals, Inc. Announces Quarterly Dividend of $1.34 (NYSE:APD)

Air Products & Chemicals, Inc. (NYSE:APD) announced a quarterly dividend on Thursday, May 21st, RTT News reports. Stockholders of record on Wednesday, July 1st will be given a dividend of 1.34 per share by the basic materials company on Monday, August 10th. This represents a $5.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, June 30th.

Air Products & Chemicals has raised its dividend payment by an average of 553.5% per year over the last three years and has raised its dividend annually for the last 37 consecutive years. Air Products & Chemicals has a dividend payout ratio of 63.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Air Products & Chemicals to earn $9.85 per share next year, which means the company should continue to be able to cover its $5.36 annual dividend with an expected future payout ratio of 54.4%.

Shares of NYSE:APD opened at $236.02 on Monday. The company’s 50-day moving average is $237.22 and its 200 day moving average is $228.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.37 and a current ratio of 2.59. The company has a market capitalization of $52.13 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 3.14 and a beta of 0.87. Air Products & Chemicals has a fifty-two week low of $167.43 and a fifty-two week high of $257.01.

Air Products & Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.02). The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Air Products & Chemicals had a return on equity of 16.36% and a net margin of 21.66%. Air Products & Chemicals’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share. As a group, research analysts predict that Air Products & Chemicals will post 8.48 earnings per share for the current year.

A number of equities analysts recently weighed in on APD shares. Atlantic Securities raised shares of Air Products & Chemicals to a “buy” rating in a report on Monday, March 16th. Morgan Stanley dropped their price objective on shares of Air Products & Chemicals from $280.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. BMO Capital Markets dropped their price objective on shares of Air Products & Chemicals from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, March 26th. Sanford C. Bernstein raised shares of Air Products & Chemicals from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $246.00 to $262.00 in a report on Wednesday, April 15th. Finally, Zacks Investment Research downgraded shares of Air Products & Chemicals from a “hold” rating to a “sell” rating and set a $230.00 price objective on the stock. in a report on Monday, April 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $246.78.

About Air Products & Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, argon, and rare gases; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas, and specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, electronics, manufacturing, food and beverage, magnetic resonance imaging, energy production and refining, and metals.

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Dividend History for Air Products & Chemicals (NYSE:APD)

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