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Linde Hikes Dividend by 10% After Strong Q4

Linde Plc (LIN) is a leading global industrial gas and engineering company with 2020 revenue of $27 billion. The company services a variety of end markets, from specialty gases for electronics manufacturing to life-saving oxygen for hospitals.

The company generated 39% of its revenue from the Americas, 24% of its revenue from the EMEA region, 22% of its revenue from the APAC region and 10% of its revenue from Engineering services during the fourth quarter of 2020. These revenues came from packaged gas (36%), merchant (26%), on-site (22%) and other (16%) distribution sources.

Strong Q4 Earnings

Linde reported fourth-quarter revenue that rose by 2.8% to $7.3 billion, beating consensus estimates by $270 million, and non-GAAP earnings of $2.30 per share, beating consensus estimates by 15 cents per share. With strong operating cash flow that rose by 12% to $2.4 billion, the company returned $926 million to shareholders through dividends and repurchases.

While the near-term economic outlook remains uncertain, the company’s management team is confident in its ability to grow earnings at a double-digit pace through growth opportunities in secular markets like healthcare, electronics and clean energy.

The company raised its quarterly dividend by 10% to $1.06 per share, which represents a 1.7% forward yield. The dividend is payable on March 22, 2021 to shareholders on record as of March 5, 2021.

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