Praxair (NYSE: PX) declared a quarterly dividend of $0.715 per share, or $2.86 annualized.

The dividend will be payable on September 15, 2015, to stockholders of record on September 8, 2015, with an ex-dividend date of September 3, 2015.

The annual yield on the dividend is 2.5 percent.

The board of directors has also authorized a new share repurchase program for up to $1.5 billion of Praxair’s common stock. Praxair has approximately $500 million of repurchase authority available under its previously announced buyback authorization from January 2014, giving it approximately $2.0 billion available for stock repurchases under these programs.

Repurchases may take place from time to time on the open market, which may include the use of 10b5-1 trading plans, or through negotiated transactions, subject to market and business conditions. The repurchases will be financed by available cash and debt.

For a dividend history and other dividend-related data on Praxair (PX) click here.