NewMarket Corporation (NEU) will raise its quarterly dividend by 10.5 percent to $2.10 per share in 2021. This follows a dividend hike of 8.6 percent to $1.90 per share in 2019. The chemicals maker has now raised its dividend three straight calendar years.
The next dividend is payable October 1, 2021 to NewMarket shareholders of record at the close of business on September 15, 2021. A new annual rate of $8.40 per share yields 2.6% at a stock price of $328.
NewMarket Corporation, through its subsidiaries Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated additive packages to market-general additives, the NewMarket family of companies provides the world with the technology to make engines run smoother, machines last longer, and fuels burn cleaner.