Albemarle (ALB) Holders Little Impressed on Heftier Dividend, Increased Buyback
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Albemarle Corp (NYSE: ALB) ticked higher, but has since pared gains after announcing plans to return more value to shareholders.
The company issued a release after the close of trading today, announcing a 20 percent increase in its quarterly dividend to 24 cents per share and adding 11.1 million shares to its current buyback plan. The dividend yield will be about 1.5 percent at today's close of $62.70.
With the buyback plan, Albemarle is looking to repurchase about 10 percent of outstanding shares within the next 10 months to 15 months.
In late trading, Albemarle is down slightly.
The company issued a release after the close of trading today, announcing a 20 percent increase in its quarterly dividend to 24 cents per share and adding 11.1 million shares to its current buyback plan. The dividend yield will be about 1.5 percent at today's close of $62.70.
With the buyback plan, Albemarle is looking to repurchase about 10 percent of outstanding shares within the next 10 months to 15 months.
In late trading, Albemarle is down slightly.
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