Praxair Declares Dividend And Announces Results And Price Increase

US-based Praxair Inc., has declared a quarterly dividend of US$0.14/share, paid on 15 June 1999 to shareholders of record on 7 June 1999. The industrial gases company reported first-quarter 1999 net income of US$108m, or diluted earnings per share of US$0.67, excluding a US$0.06 charge related to a required accounting change for start-up costs. This compares with US$102m, or diluted earnings per share of US$0.62, in the first quarter of 1998. The 1999 results include a US$0.09 per share benefit from net income hedges in Brazil. Sales totalled US$1.12bn (US$1.2bn). Currency translation effects reduced sales by US$76m. Operating profit totalled US$211m, (US$214). In 1998 the company had sales of US$4.8bn.