Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share

NOTE 4—Earnings Per Share:

Basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2012 and 2011 are calculated as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(In thousands, except per share amounts)
Basic earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	37,732	$	114,159	$	145,775	$	220,739
Denominator:
Weighted-average common shares for basic earnings per share		89,414		91,713		89,206		91,673
Basic earnings per share	$	0.42	$	1.24	$	1.63	$	2.41
Diluted earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	37,732	$	114,159	$	145,775	$	220,739
Denominator:
Weighted-average common shares for basic earnings per share		89,414		91,713		89,206		91,673
Incremental shares under stock compensation plans		637		1,082		793		983
Total shares		90,051		92,795		89,999		92,656
Diluted earnings per share	$	0.42	$	1.23	$	1.62	$	2.38

On February 15, 2012, the Company increased the regular quarterly dividend by 14% to $0.20 per share. On May 9, 2012, the Company declared a cash dividend of $0.20 per share, which was paid on July 1, 2012 to shareholders of record at the close of business as of June 15, 2012. On July 12, 2012, the Company declared a cash dividend of $0.20 per share, which is payable on October 1, 2012 to shareholders of record at the close of business as of September 14, 2012.

During the three and six months ended June 30, 2012, we repurchased 215,000 shares of our common stock for $13.7 million pursuant to the terms of our share repurchase program. As of June 30, 2012, there were 4,785,000 shares available for repurchase under our authorized share repurchase plan.