Albemarle Corporation (NYSE:ALB) Shareholders to Collect $0.41 Quarterly Dividend

Albemarle Corporation (NYSE:ALB) announced a quarterly dividend on Monday, October 26th. Investors of record on Friday, December 18th will be given a dividend of $0.41 per share by the specialty chemicals company on Monday, January 4th. This represents a $1.64 dividend on an annualized basis and a yield of 1.8%. 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. 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 Down 0.2%

Shares of NYSE:ALB opened at $93.53 on Tuesday. The firm has a market cap of $11.04 billion, a P/E ratio of 346.42, a P/E/G ratio of 0.56 and a beta of 1.36. 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 $115.00 and a 200 day simple moving average of $151.17. The company has a quick ratio of 1.35, a current ratio of 2.09 and a debt-to-equity ratio of 0.22.

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