Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS,
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS,
AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock (ticker symbol APD) is listed on the New York Stock Exchange. Our transfer agent and registrar is Broadridge Corporate Issuer Solutions, Inc., P.O. Box 1342, Brentwood, New York 11717, telephone (844) 318-0129 (U.S.) or (720) 358-3595 (all other locations); website, http://shareholder.broadridge.com/airproducts; and e-mail address, shareholder@broadridge.com. As of 31 October 2017, there were 5,644 record holders of our common stock. Quarterly stock prices, as reported on the New York Stock Exchange composite tape of transactions, and dividend information for the last two fiscal years appear below. Cash dividends on the Company’s common stock are paid quarterly. It is our expectation that we will continue to pay cash dividends in the future at comparable or increased levels. The Board of Directors determines whether to declare dividends and the timing and amount based on financial condition and other factors it deems relevant.
Quarterly Stock Information
| 2017 | High | Low | Close | Dividend | ||||||||||||
| First | $ | 150.45 | $ | 129.00 | $ | 143.82 | $ | .86 | ||||||||
| Second | 149.46 | 133.63 | 135.29 | .95 | ||||||||||||
| Third | 147.66 | 134.09 | 143.06 | .95 | ||||||||||||
| Fourth | 152.26 | 141.88 | 151.22 | .95 | ||||||||||||
| $ | 3.71 |
| 2016 | High | Low | Close | Dividend | ||||||||||||
| First | $ | 133.78 | $ | 117.80 | $ | 121.02 | $ | .81 | ||||||||
| Second | 136.88 | 106.63 | 133.99 | .86 | ||||||||||||
| Third | 141.53 | 124.78 | 132.12 | .86 | ||||||||||||
| Fourth | 146.82 | 127.72 | 139.84 | .86 | ||||||||||||
| $ | 3.39 |
Purchases of Equity Securities by the Issuer
On 15 September 2011, the Board of Directors authorized the repurchase of up to $1.0 billion of our outstanding common stock. This program does not have a stated expiration date. We repurchase shares pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, through repurchase agreements established with several brokers. There were no purchases of stock during fiscal year 2017. At 30 September 2017, $485.3 million in share repurchase authorization remained. Additional purchases will be completed at the Company’s discretion while maintaining sufficient funds for investing in its businesses and growth opportunities.
Performance Graph
The performance graph below compares the five-year cumulative returns of the Company’s common stock with those of the Standard & Poor’s 500 Index (S&P 500 Index) and the Standard & Poor’s 500 Materials Index (S&P 500 Materials Index). The figures assume an initial investment of $100 and the reinvestment of all dividends.
COMPARISON OF FIVE YEAR CUMULATIVE SHAREHOLDER RETURN
Air Products, S&P 500 Index, and S&P 500 Materials Index
Comparative Growth of a $100 Investment
(Assumes Reinvestment of All Dividends)

| Sept 2012 | Sept 2013 | Sept 2014 | Sept 2015 | Sept 2016 | Sept 2017 | |
| Air Products | 100 | 133 | 170 | 164 | 200 | 223 |
| S&P 500 Index | 100 | 120 | 143 | 139 | 163 | 194 |
| S&P 500 Materials Index | 100 | 117 | 142 | 113 | 140 | 171 |
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