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Air Products Approves $1-Billion Share Repurchase

1:26 PM MDT | September 25, 2007 | CW Editorial Staff

Air Products says it has approved a repurchase of up to $1 billion of its common stock. Air Products has approximately 216 million outstanding shares, which were trading at $94.59/share earlier today. “We are focused on shareholder returns, and this latest authorization reflects ongoing confidence in both our financial outlook and opportunities for growth fueled by the continued strength of our cash flows and balance sheet,” says John Jones, chairman and CEO of Air Products. The company posted a 35% gain in net income during its fiscal third quarter...

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