Albemarle Announces 6% Increase in Quarterly Dividend

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Oct 13, 2011, 08:36 ET

BATON ROUGE, La., Oct. 13, 2011 /PRNewswire/ -- Today, the Board of Directors of Albemarle Corporation (NYSE: ALB) increased the regular quarterly dividend by 6% to $0.175 per share. The dividend is payable January 1, 2012, to shareholders of record at the close of business as of December 15, 2011. The new annualized dividend rate is $0.70 per share.

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"We are very pleased with the Board's approval of the mid-year dividend increase," said President & Chief Executive Officer Luke Kissam. "The increase reflects confidence in the cash generating capacity of our businesses to fund the opportunities before us and our commitment to returning excess capital to shareholders. As we have done in the past, I would anticipate our looking at an additional increase in the dividend in the spring."

About Albemarle

Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer, and marketer of highly-engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services. The Company is committed to global sustainability and is advancing its eco-practices and solutions in its three business segments, Polymer Solutions, Catalysts and Fine Chemistry. Corporate Responsibility Magazine selected Albemarle to its prestigious "100 Best Corporate Citizens" list for 2010. Albemarle employs approximately 4,000 people and serves customers in approximately 100 countries. Albemarle regularly posts information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, Regulation G reconciliations, SEC filings and other information regarding the Company, its businesses and markets served.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.

SOURCE Albemarle Corporation