Air Products and Chemicals, Inc. (NYSE:APD) Announces Quarterly Dividend of $1.79

Air Products and Chemicals, Inc. (NYSE:APDGet Free Report) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 1.79 per share by the basic materials company on Monday, May 12th. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Tuesday, April 1st. This is a boost from Air Products and Chemicals’s previous quarterly dividend of $1.77.

Air Products and Chemicals has decreased its dividend by an average of 4.0% annually over the last three years and has raised its dividend annually for the last 35 consecutive years. Air Products and Chemicals has a payout ratio of 50.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Air Products and Chemicals to earn $14.04 per share next year, which means the company should continue to be able to cover its $7.08 annual dividend with an expected future payout ratio of 50.4%.

Air Products and Chemicals Stock Up 2.1 %

Air Products and Chemicals stock opened at $323.65 on Friday. The company has a 50-day simple moving average of $309.74 and a 200-day simple moving average of $295.76. Air Products and Chemicals has a one year low of $212.24 and a one year high of $337.00. The firm has a market capitalization of $71.97 billion, a P/E ratio of 18.84, a P/E/G ratio of 3.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52.

Analysts Set New Price Targets

APD has been the subject of a number of research reports. Mizuho raised their target price on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Citigroup lifted their price target on Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group raised Air Products and Chemicals from a “neutral” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Monday, November 18th. Redburn Atlantic raised Air Products and Chemicals from a “sell” rating to a “neutral” rating and set a $330.00 target price on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company raised Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $330.00 to $350.00 in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $332.71.

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About Air Products and Chemicals

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.

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Dividend History for Air Products and Chemicals (NYSE:APD)

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