WOKING, UK - Linde plc (NASDAQ:NYSE:LIN), a global leader in industrial gases and engineering, has announced a quarterly dividend of $1.39 per share. The dividend is set to be distributed on December 17, 2024, to shareholders who are on record as of December 3, 2024.
The company, which reported sales of $33 billion in 2023, is known for its comprehensive range of high-quality solutions, technologies, and services. These offerings have a wide range of applications across various end markets, including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, and metals and mining. Linde's products and technologies are integral to several critical processes, such as the production of clean hydrogen, carbon capture systems that are vital for energy transition, medical oxygen, and specialty gases for the electronics industry.
In addition to its core industrial gases operations, Linde also provides advanced gas processing solutions that support its customers in achieving expansion, efficiency enhancements, and emissions reductions. The company's efforts are aligned with its mission to make the world more productive, while also contributing to the decarbonization and protection of the planet.
This dividend declaration follows Linde's consistent performance and reflects its commitment to delivering shareholder value. The announcement is based on a press release statement issued by Linde plc. For further information about Linde and its services, interested parties can visit the company's website at linde.com.
Investors and media looking for more details can reach out to the company's Investor Relations and Media Relations contacts, respectively. Juan Pelaez is available for investor inquiries, while Anna Davies is the point of contact for media relations.
In other recent news, significant developments have unfolded at industrial gases giants Air Products and Chemicals (NYSE:APD), Inc. and Linde. D.E. Shaw, a hedge fund, has decided to back Mantle Ridge's campaign for changes at Air Products, abandoning its own bid for board seats. This collaboration is seen as a strategic move to streamline the push for change at Air Products. Analysts from Wells Fargo have praised the potential appointments of Dennis Reilley and Eduardo Menezes to Air Products' leadership, labeling them a "dream team."
On the other hand, Linde has reported record second-quarter earnings per share (EPS) of $3.85, surpassing estimates from several financial firms. The company has also announced a strategic expansion in India by acquiring two air separation units and increasing its supply of industrial gases to Tata Steel Limited. Furthermore, Linde's Annual General Meeting approved executive pay, the election of directors, and the ratification of PricewaterhouseCoopers as the independent auditor. For 2024, Linde's full-year EPS guidance is set between $15.40 and $15.60.
These recent developments underscore the strategic positioning and financial discipline of both Air Products and Linde in the industrial gas market. Analysts from BMO Capital, Deutsche Bank, and JPMorgan have expressed confidence in Linde's growth trajectory, with BMO Capital forecasting a 9% and 10% increase in EPS for the years 2024 and 2025, respectively.
InvestingPro Insights
Linde plc's recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro data, the company boasts a dividend yield of 1.17% as of the latest available information. More impressively, Linde has raised its dividend for 32 consecutive years, as highlighted by an InvestingPro Tip. This consistent dividend growth underscores the company's financial stability and commitment to rewarding shareholders.
Despite the challenging economic environment, Linde has demonstrated resilience. The company's revenue for the last twelve months stood at $32.82 billion, with a gross profit of $15.61 billion and an impressive gross profit margin of 47.56%. These figures reflect Linde's strong market position and operational efficiency across its diverse end markets.
InvestingPro Tips also reveal that Linde operates with a moderate level of debt and that its cash flows can sufficiently cover interest payments. This financial prudence is crucial for maintaining the company's dividend policy and funding its ongoing initiatives in clean hydrogen production and carbon capture systems.
Investors considering Linde should note that the stock is trading at a high earnings multiple, with a P/E ratio of 35.35. While this might indicate investor confidence in the company's future prospects, it's worth considering alongside other factors such as the company's strong return over the last five years, as mentioned in another InvestingPro Tip.
For those seeking a deeper dive into Linde's financial health and market position, InvestingPro offers 12 additional tips, providing a comprehensive view of the company's strengths and potential areas of concern.
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