Dividend Coverage: This Specialty Chemicals Company has raised Dividend for 13 Consecutive Years; Will Trade Ex-Dividend on September 14, 2017

LONDON, UK / ACCESSWIRE / September 13, 2017 / Pro-Trader Daily takes a closer look at Albemarle Corp. (NYSE: ALB) as the Company’s stock will begin trading ex-dividend on September 14, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on September 13, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On July 10, 2017, Albemarle’s Board of Directors declared a quarterly dividend of $0.32 per share. The dividend is payable October 02, 2017, to shareholders of record at the close of business as of September 15, 2017.

Albemarle’s indicated dividend represents a yield of 1.08% compared to the average dividend yield of 2.47% for the Basic Materials sector. The Company has raised its dividend for thirteen consecutive years.

Dividend Insights

Albemarle has a dividend payout ratio of 29.4%, which indicates that the Company distributes approximately $0.29 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Albemarle is forecasted to report earnings of $5.02 for the next year which is more than three times its annualized dividend of $1.28.

Albemarle’s cash outflow from operations was approximately $54.5 million for H1 2017, down $307.3 million versus H1 2016 primarily due to changes in working capital. The Company had $1.01 billion in cash and cash equivalents at June 30, 2017, compared to $2.27 billion at December 31, 2016. During the first six months of 2017, cash on hand, cash provided by operations and net borrowings funded $751.2 million of debt repayments, primarily related to the senior notes; $97.8 million of capital expenditures for plant; machinery and equipment; dividends to shareholders of $69.8 million; and a $250.0 million accelerated share repurchase program. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and sustain the dividend distribution for a long period.

About Albemarle

Albemarle, headquartered in Charlotte, North Carolina, is a global specialty chemicals Company with leading positions in lithium, bromine, and refining catalysts. The Company powers the potential of companies in many of the world’s largest and most critical industries, from energy and communications to transportation and electronics. Working side-by-side with its customers, Albemarle develops value-added, customized solutions that make them more competitive. The Company’s solutions combine the finest technology and ingredients with the knowledge and know-how of our highly experienced and talented team of operators, scientists, and engineers.

Stock Performance

At the closing bell, on Tuesday, September 12, 2017, Albemarle’s stock rose slightly by 0.64%, ending the trading session at $124.64. A total volume of 1.40 million shares have exchanged hands, which was higher than the 3-month average volume of 1.38 million shares. The Company’s stock price skyrocketed 10.63% in the last three months, 19.90% in the past six months, and 60.95% in the previous twelve months. Moreover, the stock soared 44.80% since the start of the year. The stock is trading at a PE ratio of 46.66 and has a dividend yield of 1.03%. The stock currently has a market cap of $13.75 billion.

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