Air Products Increases Quarterly Dividend to $1.77 Per Share

Marks 42^nd Consecutive Year of Quarterly Dividend Increases on Company's Common Stock

LEHIGH VALLEY, Pa., Jan. 25, 2024 /PRNewswire/ -- The Board of Directors of Air Products (NYSE:APD) has increased the quarterly dividend on the Company's common stock to $1.77 per share. This marks the 42^nd consecutive year the Company has increased its dividend payment.

The dividend is payable on May 13, 2024 to shareholders of record at the close of business on April 1, 2024.

Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi said, "We remain committed to striking the right balance of returning cash to our shareholders and investing in our growth opportunities. We expect to return approximately $1.6 billion to our shareholders in 2024, extending our track record of more than 40 years of increasing the dividend, while continuing to execute high-return industrial gas and clean hydrogen projects that advance sustainability and the energy transition. This balanced approach to capital allocation will allow us to meet our capital needs while maintaining our A/A2 ratings."

About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects supporting the transition to low- and zero-carbon energy in the heavy-duty transportation and industrial sectors. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and provides turbomachinery, membrane systems and cryogenic containers globally.

The Company had fiscal 2023 sales of $12.6 billion from operations in approximately 50 countries and has a current market capitalization of about $60 billion. Approximately 23,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.

SOURCE Air Products