Following the publication of Q3 fiscal results, Airgas is set to increase fourth quarter dividends.
Last week, Airgas’ Board of Directors increased the quarterly cash dividend on the company’s common stock by 16%, from $0.25 per share to $0.29 per share. The dividend will be payable on 31st March 2011 to shareholders of record as of 15th March 2011. The change will result in a 33% increase in dividends per share paid during fiscal 2011 compared to 2010.
Airgas CEO, Peter McCausland, commented, “We are committed to enhancing shareholder value, including through a dividend program that is reflective of the financial strength of Airgas. The company's sustained strength in earnings and cash flow as reported in the third quarter reinforces our confidence in Airgas' long-term prospects and allows us to raise the dividend while funding our growth strategies.”