Air Products increases dividend by 11 percent

LEHIGH VALLEY, Pa. (AP) -- Air Products & Chemicals Inc. said Friday that it will increase its quarterly dividend by about 11 percent.

The specialty air products company will pay a dividend of 71 cents per share on May 13 to shareholders of record as of April 1. That is up from its most recent dividend payment of 64 cents per share.

Air Products said this marks the 31st consecutive year that the company has increased its dividend payment.

Shares of the company, based in Lehigh Valley, Pa., rose 70 cents to $87.80 in midday trading.