Albemarle Corporation (NYSE:ALB – Get Free Report) declared a quarterly dividend on Monday, October 26th. Investors 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 yield of 1.7%. The ex-dividend date 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 research 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 Stock Up 6.0%
Shares of NYSE:ALB opened at $99.05 on Wednesday. Albemarle has a 12-month low of $88.01 and a 12-month high of $221.00. The business has a fifty day simple moving average of $114.29 and a 200 day simple moving average of $150.86.
Albemarle (NYSE:ALB – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.55. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.61 billion. Albemarle’s revenue was up 31.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share. On average, analysts forecast that Albemarle will post 11.19 EPS for the current fiscal year.
Albemarle Company Profile
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.
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