Summary
Air Products & Chemicals, Inc. (APD) filed its 2006 Form 10-K on December 12, 2006, reporting on its fiscal year ended September 29, 2006. The filing indicates a stable financial position with consistent dividend payouts and a significant ongoing stock repurchase program, signaling a commitment to shareholder returns. The company's common stock is listed on the New York Stock Exchange, with trading data and dividend history provided, showing a steady increase in stock price and dividends paid throughout the fiscal year. Management affirmed the effectiveness of the company's internal controls over financial reporting. The company has also adopted new accounting standards, including those for conditional asset retirement obligations and share-based payments, and has restated its segment reporting for comparability. The robust stock repurchase program, with plans to continue through at least September 2007, underscores management's confidence in the company's valuation and its strategy to return capital to shareholders.
Key Highlights
- 1APD's common stock is traded on the NYSE under the ticker symbol 'APD'.
- 2The company paid a total of $1.34 per share in dividends for fiscal year 2006, an increase from $1.25 in fiscal year 2005.
- 3A substantial stock repurchase program was in effect, with approximately $496.1 million spent and 7.7 million shares repurchased as of September 30, 2006.
- 4The company plans to complete an additional $500 million of its stock repurchase program by September 30, 2007.
- 5Management concluded that disclosure controls and procedures were effective as of September 30, 2006.
- 6The company adopted new accounting standards: FASB Interpretation No. 47 (Conditional Asset Retirement Obligations) and SFAS No. 123(R) (Share-Based Payments).
- 7Segment reporting for fiscal years 2006, 2005, and 2004 was restated for consistency with the current year's composition.