Albemarle’s second-quarter dividend
In a press release on May 8, Albemarle’s (ALB) board of directors declared the second-quarter 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 also announced the key dates for its second-quarter dividend. To be eligible for the dividend, investors should hold Albemarle stock as of the close on June 14. The dividend is expected to be paid on July 1.
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The latest numbers indicate that Albemarle has outstanding shares of 109.46 million. The company would spend ~$40.22 million to pay the dividends, assuming there aren’t any buybacks. As of the close on May 8, Albemarle’s dividend yield was ~2.0%. FMC (FMC), W.R. Grace (GRA), and Sociedad Química y Minera de Chile (SQM) have dividend yields of 2.0%, ~1.4%, and ~6.9%, respectively. Albemarle’s dividend yield is better or on par with its peers except for Sociedad Química y Minera de Chile. However, Albemarle’s current dividend yield is still lower than the yield generated by one-year Treasury bonds.
Stock price update
Albemarle stock appeared to be volatile before its second-quarter earnings, which were declared after the market closed on May 8. On May 8, Albemarle fell 4.3%, while the S&P 500 (SPY) closed flat with a marginal loss of 0.16%.