US-based Albemarle will be named to the S&P 500 Dividend Aristocrats Index. The index measures the performance of S&P 500 companies that have increased dividends every year for the last 25 consecutive years.
On February 26, 2019, the company declared a dividend increase of 10% and paid the fourth quarter of that dividend on January 2, 2020, marking 25 sequential years of dividend growth.
"Albemarle is honored to join the select group of companies that comprise the dividend aristocrats," said CEO Luke Kissam on Tuesday.
"Consistently increasing our annualised dividend from $0.10 in 1994 to $1.47 in 2019, a 22% annual growth rate, reflects our steadfast commitment to returning cash to shareholders. We are confident in Albemarle's future, will remain disciplined in our capital allocation, and will continue to prioritize dividend growth."
Albemarle, headquartered in Charlotte, is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts.