Albemarle Corporation (NYSE:ALB) Declares Quarterly Dividend of $0.41

Albemarle Corporation (NYSE:ALB) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Friday, June 12th will be given a dividend of 0.405 per share by the specialty chemicals company on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, June 12th.

Albemarle has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 30 years. Albemarle has a payout ratio of 216.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Albemarle to earn $9.59 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 16.9%.

Albemarle Trading Up 2.3%

ALB opened at $194.99 on Wednesday. Albemarle has a twelve month low of $53.70 and a twelve month high of $215.71. The company has a quick ratio of 1.57, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $179.01 and a 200-day moving average of $152.97. The stock has a market cap of $22.99 billion, a PE ratio of -33.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.36.

Albemarle (NYSE:ALB) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned ($1.09) earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Albemarle will post 8.72 EPS for the current year.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.