Air Products and Chemicals, Inc. (APD) to Issue Quarterly Dividend of $1.77 on February 10th

Air Products and Chemicals, Inc. (NYSE:APD) declared a quarterly dividend on Thursday, November 21st,RTT News reports. Shareholders of record on Thursday, January 2nd will be given a dividend of 1.77 per share by the basic materials company on Monday, February 10th. This represents a $7.08 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, January 2nd.

Air Products and Chemicals has raised its dividend payment by an average of 9.3% per year over the last three years and has raised its dividend annually for the last 49 consecutive years. Air Products and Chemicals has a dividend payout ratio of 55.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Air Products and Chemicals to earn $14.16 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 50.0%.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $288.69 on Tuesday. The company has a market capitalization of $64.20 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 3.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. Air Products and Chemicals has a fifty-two week low of $212.24 and a fifty-two week high of $337.00. The company’s 50-day moving average is $315.06 and its 200 day moving average is $291.80.

Wall Street Analysts Forecast Growth

APD has been the topic of a number of research reports. Evercore ISI raised shares of Air Products and Chemicals from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $305.00 to $365.00 in a report on Monday, October 7th. Citigroup lifted their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company lifted their target price on shares of Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Vertical Research raised shares of Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective for the company in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Air Products and Chemicals has an average rating of “Moderate Buy” and an average price target of $331.53.

About Air Products and Chemicals

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.