Albemarle Board Announces 20% Dividend Increase and Approves Expansion of Share Repurchase Program

  Albemarle Board Announces 20% Dividend Increase and Approves Expansion of
                           Share Repurchase Program

PR Newswire

BATON ROUGE, La., Feb. 12, 2013

BATON ROUGE, La., Feb. 12, 2013 /PRNewswire/ --Today, the Board of Directors
ofAlbemarle Corporation(NYSE: ALB) increased the quarterly dividend
to$0.24per share, up 20% from$0.20paid last quarter. The dividend is
payable April 1, 2013to shareholders of record at the close of businessMarch
15, 2013.The new annualized dividend rate is$0.96per share. This
announcement marks the 19^th consecutive year of dividend increases.

(Logo: http://photos.prnewswire.com/prnh/20111129/MM14279LOGO )

The Board of Directors also authorized an increase in the number of shares the
Company is permitted to repurchase under its existing share repurchase program
to 15 million from 3.9 million shares that remained outstanding under the
program as of December 31, 2012. The Company currently expects to repurchase
approximately 10% of its outstandingshares over the next 10 to 15 months.
Share repurchases will be funded through a combination of available cash on
hand, free cash flow and possibly debt.

"Today's announcement reflects our confidence in the strength of Albemarle's
balance sheet and in the Company's ability to continue its proven track record
of cash generation," said Chief Financial Officer Scott Tozier. "These actions
also reflect our commitment to consistently returning capital to shareholders,
even as we retain adequate capacity to fund organic growth opportunities and
pursue appropriate acquisitions."

About Albemarle
Albemarle Corporation (NYSE:ALB), headquartered in Baton Rouge, Louisiana, is
a leading global developer, manufacturer, and marketer of highly-engineered
specialty chemicals for consumer electronics, petroleum refining, utilities,
packaging, construction, automotive/transportation, pharmaceuticals, crop
protection, food-safety and custom chemistry services.The Company is
committed to global sustainability and is advancing its eco-practices and
solutions in its three business segments, Polymer Solutions, Catalysts and
Fine Chemistry . Corporate Responsibility Magazine recently selected Albemarle
to its prestigious "100 Best Corporate Citizens" list for 2010 and 2011.
Albemarle employs approximately 4,000 people and serves customers in
approximately 100 countries. Albemarle regularly posts information to
www.albemarle.com, including notification of events, news, financial
performance, investor presentations and webcasts, Regulation G
reconciliations, SEC filings, and other information regarding the Company, its
businesses and the markets we serve. To learn more, visit
http://www.albemarle.com.

SOURCE Albemarle Corporation

Website: http://www.albemarle.com
Contact: Albemarle Media Contact: Ashley Mendoza, +1-225-388-7137,
Ashley.Mendoza@albemarle.com or Albemarle Investor Relations Contact: Lorin
Crenshaw, +1-225-388-7322, Lorin.Crenshaw@albemarle.com
 
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