Dividend Aristocrat Air Products and Chemicals, Inc. (APD) will raise its quarterly dividend by 8 percent to $1.62 per share in 2022. This follows a dividend hike of 11.9 percent to $1.50 per share in 2021 and marks the industrial gas company’s 40th consecutive year of dividend increases.

The next APD dividend is payable on May 9, 2022 to shareholders of record at the close of business on April 1, 2022. The ex-dividend date for the next Air Products dividend is March 31, 2022. A new annualized dividend rate of $6.48 per share yields 2.3% to APD shareholders at a stock price of $280.

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."

Air Products will now pay its shareholders an estimated annual dividend of $1.437 billion. The company has announced a double digit dividend hike 3 times in the last five years with an average dividend growth rate of 11.3 percent annually over that period.

Air Products and Chemicals, Inc. is a manufacturer of atmospheric gases, process and specialty gases, equipment, and services. The company is a supplier of hydrogen, helium and liquefied natural gas process technology and equipment. The company also develops, engineers, builds, owns and operates industrial gas projects, including gasification projects. Air Products provides industrial gases and related equipment to many industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is a Delaware corporation originally founded in 1940.