Albemarle Corporation (ALB) To Go Ex-Dividend on September 11th

Albemarle Corporation (NYSE:ALB) announced a quarterly dividend on Tuesday, July 21st. Stockholders of record on Friday, September 11th will be paid a dividend of 0.41 per share by the specialty chemicals company on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, September 11th. This is a 1.2% increase from Albemarle’s previous quarterly dividend of $0.41.

Albemarle has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 30 consecutive years. Albemarle has a dividend payout ratio of 218.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Albemarle to earn $11.07 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 14.8%.

Albemarle Trading Up 2.6%

Shares of ALB stock opened at $129.63 on Wednesday. Albemarle has a fifty-two week low of $71.25 and a fifty-two week high of $221.00. The company has a 50 day moving average price of $127.87 and a 200 day moving average price of $157.93. The stock has a market capitalization of $15.30 billion, a P/E ratio of 480.11, a price-to-earnings-growth ratio of 0.74 and a beta of 1.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 2.09.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.20 by $0.55. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm’s revenue was up 31.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. Equities research analysts predict that Albemarle will post 11.39 EPS for the current fiscal 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.