Albemarle Corporation (ALB) to Issue Quarterly Dividend of $0.41 on July 1st

Albemarle Corporation (NYSE:ALB) announced a quarterly dividend on Tuesday, May 5th. Stockholders of record on Friday, June 12th will be paid 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 is Friday, June 12th.

Albemarle has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 30 consecutive years. Albemarle has a payout ratio of 216.0% indicating that 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 Price Performance

Shares of Albemarle stock opened at $193.74 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.57 and a current ratio of 2.23. The firm’s 50-day simple moving average is $179.34 and its 200-day simple moving average is $153.66. Albemarle has a twelve month low of $53.70 and a twelve month high of $215.71. The firm has a market cap of $22.84 billion, a P/E ratio of -33.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.36.

Albemarle (NYSE:ALB) last issued its earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 EPS for the quarter, beating the consensus estimate of $1.24 by $1.71. Albemarle had a negative net margin of 10.74% and a positive return on equity of 0.41%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, research analysts expect that Albemarle will post 8.72 EPS for the current fiscal year.

About Albemarle

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.