Key Highlights

  • Air Products' $1.81 quarterly dividend goes ex-dividend October 1, 2026 and is payable November 9 to shareholders of record.
  • Fiscal third-quarter GAAP loss per share was $6.47 after approximately $2.9 billion of pre-tax project-exit charges.
  • Adjusted EPS, a non-GAAP measure, was $3.47, up 12%, with adjusted operating income of $810.3 million.
  • Fiscal 2026 adjusted EPS guidance was raised to $13.39 to $13.49, with capital expenditures of approximately $3.5 billion.

Overview

Air Products and Chemicals, Inc.'s (NYSE:APD) $1.81 quarterly dividend yields 2.59% and follows a $0.02 increase in January 2026, which the company describes as its 44th consecutive year of dividend increases. Fiscal third-quarter adjusted EPS, a non-GAAP measure, was $3.47, while GAAP results showed a loss of $6.47 per share after approximately $2.9 billion of pre-tax project-exit charges.

Dividend Program and Shareholder Returns

Air Products' board declared a regular quarterly dividend of $1.81 per share on July 22, 2026, payable November 9 to shareholders of record on October 1. The latest 10-Q identifies no special or supplemental common dividend.

The company states that dividends are paid quarterly and that the board determines the amount based on financial condition and other relevant factors.

About the Company

Air Products is a global industrial-gases company supplying oxygen, nitrogen, argon, hydrogen, helium, carbon dioxide and other gases to customers in refining, chemicals, metals, electronics, food, healthcare and manufacturing. Its business includes on-site and merchant gases, equipment and technology, alongside large-scale energy-transition projects. Long-term customer contracts support recurring revenue.

Financial Performance Behind the Payout

Air Products reported fiscal third-quarter sales of $3.2 billion, up 5%, on 3% higher volumes, 1% higher pricing and 1% favorable currency. On a GAAP basis, the operating loss was $2.1 billion, GAAP operating margin was negative 66.3% versus 26.2% a year earlier, and the loss per share was $6.47 versus earnings of $3.24.

The company attributes the GAAP result to pre-tax charges of approximately $2.9 billion, or $2.2 billion after tax and $9.92 per share, tied to project-exit decisions announced June 30, 2026.

On a non-GAAP basis, adjusted operating income was $810.3 million, up 9%, adjusted operating margin was 25.6%, up 110 basis points, and adjusted EPS was $3.47, up 12%. Equity affiliates' income was $205.2 million, up 22%. Operating cash flow for the first nine months was $3.3 billion, and capital expenditures were $2.6 billion.

Project Exits Reported Separately From the Operating Business

On June 30, 2026, Air Products announced it will not proceed with the Louisiana Clean Energy Complex and will discontinue the Casa Grande zero-carbon liquid hydrogen facility in Arizona and other smaller-scale clean energy distribution projects.

The company also announced a long-term agreement for Air Products San Fu to build, own and operate four air separation units and related pipelines for a semiconductor expansion in Taiwan, and finalized a marketing and distribution agreement with Yara for renewable ammonia from the NEOM Green Hydrogen Project.

Outlook

Air Products guides fiscal 2026 adjusted EPS to $13.39 to $13.49, fourth-quarter adjusted EPS to $3.55 to $3.65, and fiscal 2026 capital expenditures to approximately $3.5 billion. The treatment of project-exit charges in GAAP versus adjusted results and electronics project activity in Taiwan are the other items the company reports.