Albemarle hikes dividend by 1.3%

Albemarle Corp (ALB) will raise its quarterly dividend by 1.3 percent to $0.395 per share in 2022. This will also mark the 28th consecutive year of annual dividend increases by the specialty chemicals company. The dividend yield for ALB is 0.7% at a stock price of $213.

Albemarle Corporation, headquartered in Charlotte, NC, is a specialty chemicals company. Albemarle manages and reports its operations under three reportable segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. The end markets the company serves include energy storage, petroleum refining, consumer electronics, construction, automotive, lubricants, pharmaceuticals, crop protection and custom chemistry services. Albemarle Corporation was incorporated in Virginia in 1993 and has paid a dividend every year since 1994. In 2020 Albemarle was named to the S&P 500 Dividend Aristocrats Index for having increased dividends every year for the last 25 consecutive years.