Two U.S.-listed companies, Air Products & Chemicals , and Automatic Data Processing , are the only stocks worldwide to have raised dividends every year above the rate of inflation for the past four decades, according to a CNBC Pro analysis. In 2022, when the price levels rose by 8%, Air Products raised its dividend by 8.9%. Similarly, Automatic Data Processing, a payroll and human resources software company, has beaten the inflation rate each year for the past four decades. Air Products & Chemicals Air Products has benefited from the rise in industrial products in Europe — it reported a 6% rise in volumes and an 8% increase in prices across the group annually for the second quarter of this year. Automatic Data Processing New Jersey-headquartered Automatic Data Processing has paid out a more significant dividend per share than Air Products in 24 of the past 40 years.

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Persons: Sebastian Bray, FactSet, Linde, Bray, Stifel, David Grossman Organizations: Air Products & Chemicals, CNBC, Air Products, Air Products & Chemicals Air Products, BASF, Neom, Berenberg Research, Air Liquide, Products Locations: Europe, Saudi Arabia, 24.8x, 23.4x, Jersey