Airgas, Inc. announced that the Board of Directors increased the quarterly cash dividend on the company's common stock by 20%, from $0.40 per share to $0.48 per share. The dividend will be payable on June 28, 2013 to shareholders of record as of June 14, 2013. The company reported unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2013. The company reported net sales of $1,262,923,000, operating income of $152,262,000, earnings before income taxes of $137,035,000, net earnings of $86,141,000 or $1.13 per diluted share against net sales of $1,241,149,000, operating income of $145,758,000, earnings before income taxes of $129,994,000, net earnings of $87,967,000 or $1.12 per diluted share a year ago. For the year, the company reported net sales of $4,957,497,000, operating income of $596,417,000, earnings before income taxes of $543,417,000, net earnings of $340,874,000 or $4.35 per diluted share against net sales of $4,746,283,000, operating income of $556,221,000, earnings before income taxes of $492,166,000, net earnings of $313,374,000 or $4.00 per diluted share a year ago. Net cash provided by operating activities was $550,268,000 against $506,406,000 a year ago. Capital expenditure was $325,465,000 against $356,514,000 a year ago. Return on capital was 12.3% for the twelve months ended March 31, 2013, a decrease of 20 basis points from the prior year. Adjusted operating income was $154 million, up 1% from the prior year. adjusted earnings per diluted share were $1.14, an increase of 3% from $1.11 in the prior year. For the first quarter of fiscal year 2014, the company expects earnings per diluted share to increase 1% to 6% from adjusted earnings per diluted share of $1.13 in the prior year to a range of $1.14 to $1.20, which includes an estimated year-over-year increase of approximately $0.16 related to the SAP initiative, reflecting an estimated $0.06 of net benefit in the fiscal 2014 first quarter compared to $0.10 of expense in the fiscal 2013 first quarter. Guidance also reflects year-over-year negative impacts to earnings per share related to variable compensation reset following a below-budget year and a challenging and unpredictable refrigerants market, and a year-over-year benefit to earnings per share related to the company's recently completed share repurchase program. For the full fiscal year 2014, the company expects earnings per diluted share to increase 15% to 23% from $4.35 in the fiscal 2013 to a range of $5.00 to $5.35, which includes an estimated year-over-year increase of approximately $0.63 related to the SAP initiative, reflecting an estimated $0.45 of net benefit in fiscal 2014 compared to $0.18 of net expense in fiscal 2013. Guidance also reflects year-over-year negative impacts to earnings per share related to variable compensation reset following a below-budget year and a challenging and unpredictable refrigerants market, and a year-over-year benefit to earnings per share related to the company's recently completed share repurchase program, one additional selling day in fiscal 2014, and the incremental contribution from acquisitions closed during fiscal 2013. As a result of this one-year hurdle, though, fiscal 2014 guidance includes an estimated $0.05 to $0.10 per share.

Airgas, Inc. announced that on April 21, 2013, director Robert L. Lumpkins informed the Board of Directors of the company that he would not stand for re-election at the Company's Annual Meeting of Stockholders to be held in August 2013. Mr. Lumpkins indicated that his decision was not the result of any disagreement with the Board or with the company's management.

Airgas, Inc. announced that Douglas L. Jones has been named Airgas Division President -- West Division, replacing Max D. Hooper who has resigned after 17 years of dedicated service to Airgas and its West Division. Effective immediately, Jones reports to Michael Molinini, Airgas President and CEO, and is responsible for managing the West Division's three regions -- Nor Pac, NCN, and West -- which encompass California, Arizona, Nevada, Oregon, Washington, and north western Idaho. Jones most recently served as President -- Intermountain Region. Jones became the region's Vice President of Sales and Marketing in 2001 and then President of Intermountain in 2006. Mike Eatmon replaces Jones as President -- Intermountain Region. In 2003, Eatmon became Vice President of Sales with Airgas Southwest in Houston, Texas, managing all sales activity for the business unit and helping integrate the acquisitions of BOC, Aeriform, and Union Gas during his tenure. He became Area Vice President for Airgas Intermountain in 2007, managing all sales and branch operations in Colorado.