Praxair Inc. (PX) will raise its quarterly dividend by 4.8 percent to $0.825 per share in the first quarter of 2018. Last year Praxair hiked its dividend by 5.0 percent.

The dividend is payable on March 15, 2018, to common shareholders of record as of March 7, 2018. The new dividend yield for PX is 2.0% and today marks the 25th consecutive year of dividend increases by the industrial gas producer.

“With a focused business strategy and solid execution, we were able to generate record free cash flow in 2017 and this dividend increase reflects our confidence in our ability to sustain strong cash flow throughout economic cycles,” said Chairman and Chief Executive Officer Steve Angel. “Praxair is proud to have been added to the S&P 500 Dividend Aristocrats Index, recognizing 25 straight years of dividend increases.”

Praxair, Inc. Is an industrial gas company with activities in North and South America. The company’s primary products are atmospheric gases (oxygen, nitrogen etc) and process gases (carbon dioxide, helium hydrogen etc). The company also builds equipment that produces industrial gases. Praxair serves several industries, including healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, chemicals and water treatment.