By Colin Kellaher
Air Products & Chemicals Inc. on Thursday said its board raised the quarterly dividend by 12% to $1.50 a share from $1.34.
The new payout, equal to $6 a year, represents an annual yield of about 2.22% based on Wednesday's closing price of $269.98, up from 1.99%.
The Allentown, Pa., industrial gases company said the increased dividend is payable May 10 to shareholders of record April 1, adding that this marks the 39th consecutive year that it has raised the payout.
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(END) Dow Jones Newswires