"The $1.79 quarterly payment represents the final installment before the company's recently announced increase. On January 27, 2026, management declared the next quarterly dividend at $1.81 per share, a 1.1% increase that continues the growth trajectory but at a noticeably slower pace than the company's historical standard. At the current stock price of $295.40, that translates to a forward yield of approximately 2.5%."
"In fiscal year 2025, APD generated $3.25 billion in operating cash flow-adequate to cover the $1.58 billion dividend payout at a ratio of 2.05x. That sounds safe until you account for capital expenditures. The company spent $7.02 billion on capital projects last year, creating a negative free cash flow of $3.77 billion. This isn't a one-year anomaly. Fiscal 2024 showed similar strain with negative free cash flow of $3.15 billion."
Air Products paid a $1.79 quarterly dividend on February 9, 2026 and declared a $1.81 quarterly dividend on January 27, 2026, a 1.1% increase. At a stock price of $295.40 the forward yield is about 2.5%. The company produced $3.25 billion of operating cash flow in fiscal 2025, covering the $1.58 billion dividend at a 2.05x ratio. Annual capital expenditures rose to $7.02 billion in fiscal 2025, producing negative free cash flow of $3.77 billion and similar negative free cash flow in fiscal 2024. Major investments in hydrogen and clean energy drive capex and raise dividend sustainability concerns.
Read at 24/7 Wall St.
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