The Board of Directors of Air Products has increased the quarterly dividend on the company's common stock to 44 cents per share from 38 cents, an increase of 16%, and has also elected John E. McGlade as Chairman of the board, effective as of 1st April 2008.
The dividend is payable on 12th May 2008 to shareholders of record at the close of business on 1st April 2008, marking the 26th consecutive year that Air Products has increased its dividend payment.
Succeeding John P. Jones as Chief Executive Officer on 1st October 2007 upon his retirement, McGlade is currently a member of the board of directors and will carry the titles of Chairman, Chief Executive Officer and President. Jones had continued to serve as Chairman of the board until March 2008, to ensure a smooth and orderly
McGlade, 54, joined Air Products in 1976 in the company's career development program and subsequently held various positions within its Gases business, including both domestic and international assignments.