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Albemarle Announced Its Quarterly Dividend

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Albemarle’s quarterly dividend

On February 26, Albemarle’s (ALB) board of directors declared the quarterly dividend. The company declared a quarterly dividend of ~$0.3675 per share. On an annualized basis, the dividend will be $1.47 per share—an increase of 9.7% on a year-over-year basis. Albemarle has increased its dividend for the 25th consecutive year. As of March 1, Albemarle’s dividend yield was 1.61%.

To be eligible for the dividend, investors should hold Albemarle’s shares as of the close on March 15. The dividend is expected to be paid on April 1. At the end of the fourth quarter, Albemarle has 107 million outstanding shares. Assuming that there aren’t any buybacks until the record date, Albemarle would be paying $39.32 million in dividend payments.

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Luke Kissam, Albemarle’s CEO, said, “Providing our shareholders with a dividend increase every year for the past quarter of a century places Albemarle among a select group of companies. We are confident in the future of Albemarle and remain dedicated to generating shareholder return through our dividend and business growth.”

Stock update

Albemarle remained positive. The stock rose 1.8% and closed at $90.79 for the week ending March 1. The Global X Lithium ETF (LIT) holds 5.6% of its portfolio in Albemarle. LIT fell 0.2% and underperformed Albemarle last week.

The gain in the stock price caused Albemarle to trade 2.8% above the 100-day moving average price of $88.34.

On a year-to-date basis, Albemarle has risen 18.3%. Analysts appear to be bullish on the stock and have recommended a target price of $109.20, which implies a return potential of 20.3% over its closing price on March 1. Albemarle’s 14-day relative strength index is at 69, which indicates that the stock is close to being moved into an overbought position.

LIT also provides exposure to FMC (FMC), Tesla (TSLA), and Johnson Controls (JCI) with weights of 30.8%, 4.3%, and 2.6%, respectively, as of March 1.

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