Why Air Products & Chemicals Stock Soared 47% in 2019
Bouncing back from their 2.5% drop in 2018, shares of Air Products & Chemicals (NYSE: APD) rose 47% in 2019, according to data from S&P Global Market Intelligence. A strong fourth-quarter 2019 earnings report, management's auspicious outlook for 2020, an update to the company's dividend policy, and a positive nod from Wall Street all helped to catapult shares higher throughout the year.
While the gift-giving season had wrapped up for most people weeks earlier, Air Products, a provider of industrial gases, extended the holiday spirit into the new year and offered investors a present in the form of a 5% increase of its quarterly dividend, to $1.16 per share. A Dividend Aristocrat, Air Products has raised its quarterly dividend for 37 consecutive years.