Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share

NOTE 4—Earnings Per Share:

Basic and diluted earnings per share for the three-month periods ended March 31, 2013 and 2012 are calculated as follows:

	Three Months Ended March 31,
	2013		2012
	(In thousands, except per share amounts)
Basic earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	83,987	$	114,262
Denominator:
Weighted-average common shares for basic earnings per share		88,719		88,997
Basic earnings per share	$	0.95	$	1.28
Diluted earnings per share
Numerator:
Net income attributable to Albemarle Corporation	$	83,987	$	114,262
Denominator:
Weighted-average common shares for basic earnings per share		88,719		88,997
Incremental shares under stock compensation plans		517		950
Total shares		89,236		89,947
Diluted earnings per share	$	0.94	$	1.27

On February 12, 2013, the Company increased the regular quarterly dividend by 20% to $0.24 per share and declared a cash dividend of said amount for the first quarter of 2013, which was paid on April 1, 2013 to shareholders of record at the close of business as of March 15, 2013.

On February 12, 2013, our Board of Directors authorized an increase in the number of shares the Company is permitted to repurchase under our share repurchase program, pursuant to which the Company is now permitted to repurchase up to a maximum of 15 million shares, including those shares previously authorized but not yet repurchased. During the three-month period ended March 31, 2013, we repurchased 1,013,650 shares of our common stock for $64.5 million pursuant to the terms of our share repurchase program. As of March 31, 2013, there were 13,986,350 shares available for repurchase under our authorized share repurchase program.