Newmarket (NEU) Raises Quarterly Dividend 14.3% to $1.60; $500M Buyback Plan

Newmarket (NYSE: NEU) declared a quarterly dividend of $1.60 per share, or $6.4 annualized. This is a 14.3% increase from the prior dividend of $1.40. The dividend will be payable on January 1, 2016, to stockholders of record on December 15, 2015, with an ex-dividend date of December 11, 2015. The annual yield on the dividend is 1.7 percent.

The Board of Directors approved a new share repurchase program and authorized management to repurchase up to $500 million of NewMarket’s outstanding common stock until December 31, 2018, as market conditions warrant and covenants under our existing debt agreements permit. NewMarket may conduct the share repurchases in the open market and in privately negotiated transactions. The repurchase program does not require NewMarket to acquire any specific number of shares and may be terminated or suspended at any time. The previous authorization, which was valid until December 31, 2016, has been cancelled. It had approximately $76 million of unused repurchase capacity.

For a dividend history and other dividend-related data on Newmarket (NEU) click here.

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