Albemarle raises dividend for the 21st consecutive year

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Feb 24, 2015, 05:03 ET

BATON ROUGE, La., Feb. 24, 2015 /PRNewswire/ -- The board of directors of Albemarle Corporation (NYSE: ALB) declared today a quarterly dividend of $0.29 per share, an increase of 5% over the previous quarterly dividend of $0.275. The dividend, which has a new annualized rate of $1.16, is payable April 1, 2015, to shareholders of record at the close of business as of March 16, 2015.

"For over twenty years, we have continuously underscored our confidence in the strong future growth and cash generation prospects of Albemarle's businesses by raising our dividend," stated President and Chief Executive Officer Luke Kissam. "Following the transformative acquisition of Rockwood, we believe our long term cash generation potential has never been greater and that we are well-positioned to continue this trend of consistent dividend growth, which has seen our dividend rise at a 17% five-year compounded annual growth rate."

As a result of over twenty years of consistent payout growth, Albemarle was recently added to Standard and Poor's High Yield Dividend Aristocrats index.

About Albemarle

Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a premier specialty chemicals company with leading positions in attractive end markets around the world. With a broad customer reach and diverse end markets, Albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and derivatives, catalysts and surface treatment chemistries used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services. Albemarle is focused on delivering differentiated, performance-based technologies that deliver innovative and sustainable solutions to its customers. The Company employs approximately 6,900 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 the markets it serves.

"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 and its Quarterly Reports on Form 10-Q.

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SOURCE Albemarle Corporation