Air Products & Chemicals (NYSE:APD) has declared its latest quarterly dividend. The company will hand out $0.71 per share of its common stock on May 13 to shareholders of record as of April 1. This amount represents an increase of nearly 11% over the previous disbursement of $0.64, which was paid in all four quarters of last year.

Air Products & Chemicals is a steady and reliable dividend payer. It typically raises its payout at the beginning of every year. In the press release announcing the latest disbursement, the company pointed out that this is the 31st consecutive year it has raised its dividend.

The new dividend annualizes to $2.84 per share. That yields 3.3% at Air Products & Chemicals' current stock price of $87.10.