Airgas Raises Dividend By 9%

Airgas Inc. said late Tuesday that it raised its quarterly dividend by 9% to 60 cents a share. The supplier of industrial, medical and specialty gases said the new dividend will be payable June 30 to shareholders of record as of June 15. "This announced dividend action reflects our confidence in the strength of the Airgas organization and the long term fundamentals of our business," said Executive Chairman Peter McCausland. The stock, which was inactive in after-hours trade, has lost 7.9% year to date, while the S&P 500 has gained 0.9%.