Albemarle Corporation (NYSE:ALB) Announces Quarterly Dividend of $0.41

Albemarle Corporation (NYSE:ALB) announced a quarterly dividend on Monday, October 26th. Stockholders of record on Friday, December 18th will be paid a dividend of $0.41 per share by the specialty chemicals company on Monday, January 4th. This represents a $1.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, December 18th.

Albemarle has a payout ratio of 218.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Albemarle to earn $11.51 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 14.2%.

Albemarle Trading Down 0.2%

ALB opened at $93.53 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.09 and a quick ratio of 1.35. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 346.42, a price-to-earnings-growth ratio of 0.56 and a beta of 1.36. The firm has a 50 day simple moving average of $115.00 and a 200 day simple moving average of $151.17. Albemarle has a fifty-two week low of $88.01 and a fifty-two week high of $221.00.

Albemarle (NYSE:ALB) last announced its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.55. Albemarle had a net margin of 3.09% and a return on equity of 10.96%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was up 31.1% on a year-over-year basis. On average, sell-side analysts anticipate that Albemarle will post 11.19 earnings per share for the current year.

About Albemarle

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company headquartered in Charlotte, North Carolina. The company develops, manufactures, and markets engineered chemicals used in energy storage, transportation, refining, pharmaceuticals, agriculture, consumer products, and other industrial applications.

Albemarle is one of the world’s major producers of lithium and supplies lithium compounds, including lithium carbonate and lithium hydroxide, for use in rechargeable batteries for electric vehicles, portable electronics, and grid energy-storage systems.