Albemarle Co. (ALB) Raises Dividend to $0.34 Per Share

Albemarle Co. (NYSE:ALB) announced a quarterly dividend on Friday, February 23rd, RTT News reports. Investors of record on Thursday, March 15th will be paid a dividend of 0.335 per share by the specialty chemicals company on Monday, April 2nd. This represents a $1.34 annualized dividend and a dividend yield of 1.13%. This is an increase from Albemarle’s previous quarterly dividend of $0.32.

Albemarle has raised its dividend payment by an average of 5.9% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Albemarle has a payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Albemarle to earn $5.12 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 25.0%.

Shares of Albemarle (NYSE:ALB) opened at $118.75 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. Albemarle has a 12-month low of $91.02 and a 12-month high of $144.99. The company has a market capitalization of $12,561.14, a P/E ratio of 15.36, a P/E/G ratio of 1.50 and a beta of 1.56.

Several brokerages have issued reports on ALB. Robert W. Baird restated a “hold” rating and issued a $135.00 target price on shares of Albemarle in a report on Wednesday, November 1st. UBS Group upped their target price on Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Royal Bank of Canada upped their target price on Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Nomura upped their target price on Albemarle to $159.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Jefferies Group upped their target price on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Albemarle currently has an average rating of “Buy” and an average target price of $129.79.

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About Albemarle

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Dividend History for Albemarle (NYSE:ALB)

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