Albemarle (NYSE:ALB) is continuing to pour money from its beaker of shareholder payout. The chemical company has declared its latest dividend -- $0.24 per share to be paid on Jan. 2, 2014, to shareholders of record as of Dec. 13. That amount matches each of the firm's three preceding distributions, the most recent of which was paid at the beginning of this month. Prior to that, Albemarle handed out $0.20 per share.
The company is a consistent and reliable dividend payer. Since splitting its stock two-for-one in March 2007, its distribution has climbed steadily from $0.105 per share to the present level.
The just-declared dividend annualizes to $0.96 per share. That yields 1.5% at Albemarle's current stock price of $63.55.
Fool contributor Eric Volkman has no position in Albemarle. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.