Dividend Coverage: This Industrial Gases Company Has Increased Dividend for the Past 34 Years; Will Trade Ex-Dividend on June 28, 2017

LONDON, UK / ACCESSWIRE / June 28, 2017 / Pro-Trader Daily takes a closer look at Air Products and Chemicals, Inc. (NYSE: APD) as the Company’s stock will begin trading ex-dividend on June 29, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior to the ex-dividend date that is by latest at the end of trading session on June 28, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at: http://protraderdaily.com/register/.

Today, PRO-TD covers ex-dividend news on APD. Get our free coverage by signing up at: http://protraderdaily.com/optin/?symbol=APD.

Dividend Declared

On May 18, 2017, Air Products and Chemicals’ Board of Directors declared a quarterly dividend of $0.95 per share of common stock. The dividend is payable on August 14, 2017, to shareholders of record at the close of business on July 03, 2017.

Air Products’ indicated dividend represents a yield of 2.62% which is higher compared to the average dividend yield for the Basic Materials sector of 2.48%. The Company is a dividend aristocrat and has increased dividend for the past 34 years.

Dividend Insights

Air Products and Chemicals has dividend payout ratio of 61.8% which reflects that the Company distributes approximately $0.62 for every $1.00 earned. The dividend payout ratios reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, pay off debt, and/or add to cash reserves.

According to analysts’ estimates, Air Products and Chemicals is expected to report earnings of $6.79 in the coming year, which again substantially covers the Company’s annualized dividend of $3.80.

As on March 31, 2017, Air Products and Chemicals had cash and cash items worth $1.87 billion and its current assets totaled $5.30 billion, while current liabilities were in the sum of $2.60 billion. The strong financial position would allow the Company to absorb any fluctuations in earnings and pay its dividend without interruption.

About the Company

Air Products and Chemicals is a world-leading industrial gases company which has been in operation for over 75 years. The Company’s core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products and Chemicals is also the world’s leading supplier of liquefied natural gas process technology and equipment.

The Company had fiscal 2016 sales of $7.5 billion from continuing operations in 50 countries and has a current market capitalization of approximately $31.34 billion.

Recent Development for Air Products

On June 15, 2017, Air Products and Chemicals announced it has formed a new joint venture with Linde North America named East Coast Nitrogen and will build a new 1,100 ton per day world-scale air separation unit and industrial gas liquefier in Glenmont, New York. An approximate capital investment of $60 million will be made in the new facility which will produce liquid nitrogen, liquid oxygen, and liquid argon. The new plant will be constructed and operated by Air Products and Chemicals with commercial status targeted for December 2018.

Stock Performance

On Tuesday, June 27, 2017, the stock closed the trading session at $143.83, slightly down 0.75% from its previous closing price of $144.91. A total volume of 796.57 thousand shares have exchanged hands. Air Products and Chemicals’ stock price surged 4.79% in the past three months, and 15.39% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 0.01%. The stock is trading at a PE ratio of 24.00 and has a dividend yield of 2.64%. The stock currently has a market cap of $31.34 billion.

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