Praxair and Microchip Technology Announce Dividend Increases

Earlier this week, Praxair (PX) and Microchip Technology (MCHP) announced increases in the company's quarterly dividend.

Praxair

• increased quarterly dividend 25% to 37.5 cents per share versus 30 cents per share in the same quarter last year.

• the projected payout ratio on 2008 estimated earnings of $4.13 is approximately 36%. The 5-year average payout ratio is 31%.

• the company carries a S&P Quality Ranking of A.

Microchip Technology

• increased quarterly dividend 20.8% to 32 cents per share versus 26.5 cents per share in the same quarter last year. The company began paying a dividend in October 2002. The dividend has been increased every quarter since October 2003.
  

• the projected payout ratio on 2008 estimated earnings of $1.42 (March 2008 year end) is 90%. The 5-year average payout ratio is 16%. Last year's payout ratio was 35%.

• the company carries a S&P quality Ranking of B+.

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