LONDON, UK / ACCESSWIRE / June 2, 2017 / Active Wall St. announces its dividend coverage for Praxair, Inc. (NYSE: PX). Shares of Praxair will begin trading ex-dividend on June 05, 2017. In order to qualify for a dividend check, investors must own the stock on or before June 02, 2017. Register with us now for your free membership at: http://www.activewallst.com/register/.

Today, AWS is promoting its ex-dividend coverage on PX. Get our free coverage by signing up to: http://www.activewallst.com/register/.

Dividend Declared

On April 27, 2017, the board of directors of Praxair declared a quarterly dividend of $0.7875 cents per share, which was unchanged from the previous quarter. The dividend is payable on June 15, 2017, to shareholders of record on June 07, 2017. The ex-dividend date is June 05, 2017.

Praxair's indicated dividend represents a yield of 2.38% compared to the average dividend yield for the Basic Materials sector of 2.38%, and reflects dividend payout of $3.15 on an annualized basis. Praxair last increased its dividend by 5% in January 2017 from $0.785 per common stock to the current dividend of $0.787 per share.

"Our employees continued to execute on our core business strategy in 2016, driving free cash flow to a record level," said Chairman and Chief Executive Officer Steve Angel, "As a result, we are proud to announce a five percent increase in our dividend, making this our 24th consecutive annual increase."

Praxair has a dividend payout ratio of 55.01% meaning the Company distributes $0.55 for every $1.00 earned, and the dividend is sufficiently covered by earnings. As per analysts' estimates, Praxair is expected to report earnings of $6.26 per share in the coming year, which means the Company should be able to comfortably cover its annualized dividend.

Moreover, as on April 27, 2017, Praxair had cash and cash equivalents worth $519 million and total current assets of $3.01 billion. Having this liquidity cushion would allow the Company to absorb any fluctuations in earnings and pay dividend without interruption.

About the Company

Praxair, Inc., a Fortune 300 company with 2016 sales of $11 billion, is a leading industrial gas company in North and South America and one of the largest worldwide. The Company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair's products, services and technologies, brings efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others.

Recent Development for Praxair

On May 24, 2017, Praxair, confirmed that it has reached agreement in principle on terms and conditions of a Business Combination Agreement (?BCA?) with Linde AG (LIN.DE) pursuant to which the companies would combine their businesses in a merger of equals under a new holding company through an all-stock transaction, consistent with the transaction structure that the companies announced on December 20, 2016.

The BCA is subject to approval by Praxair's Board of Directors and the Executive Board and Supervisory Board of Linde. There is no assurance that such Board approvals will be obtained, that the BCA will be executed, or that such other conditions will be satisfied and that the transaction will be consummated.

Stock Performance

At the closing bell, on Thursday, June 01, 2017, the stock climbed 1.36%, ending the trading session at $134.09. A total volume of 2.29 million shares were traded at the end of the day, which was higher than the 3-month average volume of 1.33 million shares. Praxair's stock price surged 12.89% in the last three months, 9.75% in the past six months, and 20.98% in the previous twelve months. Moreover, the stock rallied 14.42% since the start of the year. The stock is trading at a PE ratio of 25.16 and has a dividend yield of 2.35%. The stock currently has a market cap of $38.25 billion.

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