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Albemarle Widens Share Repurchase Program, Raises Dividend

8:35 AM MDT | October 13, 2011 | Vincent Valk

Albemarle has increased the size of its share repurchase program to 5 million shares, and raised its quarterly dividend to 17.5 ct/share, the company says. The dividend is payable on January 1 of next year, and the annualized dividend now totals 70 cts/share.   Albemarle repurchased 3 million shares in the third-quarter of this year. The company had 88.76 million shares outstanding as of September 30. Shares in Albemarle closed at $47.44 on October 12.   "The strength of our balance sheet enabled the intra-quarter share repurchases and the Board's...

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