Albemarle Declared Its Q2 Dividend

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.

Albemarle Declared Its Q2 Dividend

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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%.