Air Products said Monday that it has completed its current $1 billion share repurchase program with the repurchase of $299 million shares of stock this quarter.

Overall, for the year, Air Products has repurchased $649 million of stock.

Air Products also said that its Board of Directors authorized a new $1 billion share repurchase program. The Board action will allow the company the flexibility to repurchase shares at its discretion, while maintaining sufficient funds for investing in growth opportunities.

Last week, the company also declared a quarterly dividend of $0.58 per share of common stock, payable on November 14 to shareholders of record on October 3.

As of August 31, Air Products had about 209.98 million shares outstanding.