LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily takes a closer look at Air Products and Chemicals, Inc. (NYSE: APD) (“Air Products”) as the Company’s stock will begin trading ex-dividend on October 06, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 05, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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On July 20, 2017, Air Products’ Board of Directors declared a quarterly dividend of $0.95 per share of common stock. The dividend is payable on November 13, 2017, to shareholders of record at the close of business on October 10, 2017.
Air Products’ indicated dividend represents a yield of 2.50%, which is substantially higher compared to the average dividend yield of 2.29% for the Basic Materials sector. Air Products has raised dividend for 34 years in a row.
Air Products has a dividend payout ratio of 60.9%, which indicates that the Company distributes approximately $0.61 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts’ estimates, Air Products is forecasted to report earnings of $6.95 for the next year, which is substantially above the Company’s annualized dividend of $3.80.
As of June 30, 2017, Air Products’ cash and equivalents totaled $2.33 billion compared to $1.29 billion as on September 30, 2016. The Company’s net cash provided by operating activities for the nine months ended June 30, 2017, totaled $1.61 billion compared to $1.52 billion for the year-ago same period. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Air Products
On September 27, 2017, Air Products announced the appointment of Naji Skaf as Vice President and Managing Director of its Industrial Gases business in the Middle-East, Egypt, and Turkey. In this new role, Skaf will be responsible for managing and growing Air Products’ industrial gases operations and strategic partnerships in the region.
Skaf joins Air Products from Heidrick & Struggles International, Inc., where he was a partner in their Middle-East and North Africa Practice and a member of their global Industrial Practice. Previously, Skaf served as Chief Executive Officer of Gulf Cryo, a regional industrial gases group headquartered in Dubai, and led technologies and services for Air Liquide’s Industry and Health business, holding various positions in Houston, Paris, and Cairo.
Skaf holds a BSc from McGill University in Montreal, Canada and an MBA from the University of Houston.
About Air Products
Air Products is a world-leading Industrial Gases company in operation for over 75 years. The Company’s core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2016 sales of $7.5 billion from continuing operations in 50 countries and has a current market capitalization of approximately $30 billion.
Air Products and Chemicals’ share price finished yesterday’s trading session at $152.90, slightly down 0.19%. A total volume of 773.45 thousand shares have exchanged hands. The Company’s stock price surged 7.58% in the last three months, 13.06% in the past six months, and 11.35% in the previous twelve months. Additionally, the stock gained 6.31% since the start of the year. Shares of the Company have a PE ratio of 31.60 and have a dividend yield of 2.49%. The stock currently has a market cap of $33.35 billion.
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