Yesterday, Airgas, Inc. announced that the Board of Directors increased the quarterly cash dividend on the company’s common stock by 10%, from $0.29 per share to $0.32 per share.

The dividend will be payable on September 30, 2011 to shareholders of record as of September 15, 2011.

“We are raising the dividend on the strength of our record earnings and strong cash flow in fiscal 2011 and the first quarter of fiscal 2012,” said Airgas Chief Executive Officer Peter McCausland.

“Our continued confidence in Airgas’ long-term prospects and financial stability allows us to grow our dividend commensurate with earnings and cash flow while still funding our growth strategies,$quot; continued McCausland.