Earnings Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share:

Basic and diluted earnings per share for the three-month periods ended March 31, 2022 and 2021 are calculated as follows (in thousands, except per share amounts):


	Three Months Ended March 31,
		2022		2021
Basic earnings per share
Numerator:
Net income attributable to Albemarle Corporation		$	253,383	$	95,677
Denominator:
Weighted-average common shares for basic earnings per share		117,066		112,592
Basic earnings per share		$	2.16	$	0.85

Diluted earnings per share
Numerator:
Net income attributable to Albemarle Corporation		$	253,383	$	95,677
Denominator:
Weighted-average common shares for basic earnings per share		117,066		112,592
Incremental shares under stock compensation plans		587		738
Weighted-average common shares for diluted earnings per share		117,653		113,330
Diluted earnings per share		$	2.15	$	0.84

On February 8, 2021, we completed an underwritten public offering of 8,496,773 shares of our common stock, par value $0.01 per share, at a price to the public of $153.00 per share. The Company also granted to the underwriters an option to purchase up to an additional 1,274,509 shares, which was exercised. The total gross proceeds from this offering were approximately $1.5 billion, before deducting expenses, underwriting discounts and commissions. The net proceeds were used for debt repayments and general corporate purposes.

On February 24, 2022, the Company declared a cash dividend of $0.395, an increase from the prior year regular quarterly dividend. This dividend was paid on April 1, 2022 to shareholders of record at the close of business as of March 18, 2022. On May 3, 2022, the Company declared a cash dividend of $0.395 per share, which is payable on July 1, 2022 to shareholders of record at the close of business as of June 10, 2022.