NewMarket Corporation Declares Quarterly Dividend

Rhea-AI Summary

The Board of Directors of NewMarket Corporation (NYSE: NEU) has declared a quarterly dividend of $2.10 per share, payable on April 3, 2023, to shareholders of record as of March 15, 2023. NewMarket, through its subsidiaries Afton Chemical and Ethyl Corporation, specializes in chemical additives that improve petroleum product performance. However, the company acknowledges various risks, including raw material availability, production disruptions, and regulatory challenges that could impact actual results. Investors are encouraged to review risk factors detailed in NewMarket's 2022 Annual Report.

Positive

• Declared a quarterly dividend of $2.10 per share, indicating strong shareholder returns.

Negative

• Risks include disruptions in production facilities and raw material price increases.

RICHMOND, Va.--(BUSINESS WIRE)-- The Board of Directors of NewMarket Corporation (NYSE: NEU) declared a quarterly dividend in the amount of $2.10 per share on the common stock of the Corporation. The dividend is payable April 3, 2023 to NewMarket shareholders of record at the close of business on March 15, 2023.

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.

Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although NewMarket’s management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations.

Factors that could cause actual results to differ materially from expectations include, but are not limited to, the availability of raw materials and distribution systems; disruptions at production facilities, including single-sourced facilities; hazards common to chemical businesses; the ability to respond effectively to technological changes in our industry; failure to protect our intellectual property rights; sudden, sharp, or prolonged raw material price increases; competition from other manufacturers; current and future governmental regulations; the loss of significant customers; failure to attract and retain a highly-qualified workforce; an information technology system failure or security breach; the occurrence or threat of extraordinary events, including natural disasters, terrorist attacks, wars and health-related epidemics such as the COVID-19 pandemic; risks related to operating outside of the United States; political, economic, and regulatory factors concerning our products; the impact of substantial indebtedness on our operational and financial flexibility; the impact of fluctuations in foreign exchange rates; resolution of environmental liabilities or legal proceedings; limitation of our insurance coverage; our inability to realize expected benefits from investment in our infrastructure or from future acquisitions, or our inability to successfully integrate future acquisitions into our business; the underperformance of our pension assets resulting in additional cash contributions to our pension plans; and other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Item 1A. “Risk Factors” of our 2022 Annual Report on Form 10-K, which is available to shareholders upon request.

You should keep in mind that any forward-looking statement made by NewMarket in the foregoing discussion speaks only as of the date on which such forward-looking statement is made. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We have no duty to, and do not intend to, update or revise the forward-looking statements in this discussion after the date hereof, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that the events described in any forward-looking statement made in this discussion, or elsewhere, might not occur.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005905/en/

William J. Skrobacz

Investor Relations

Phone: 804.788.5555

Fax: 804.788.5688

Email: investorrelations@newmarket.com

Source: NewMarket Corporation

FAQ

What is the dividend amount for NewMarket Corporation (NEU)?

The dividend amount is $2.10 per share.

When will the dividend for NEU be paid?

The dividend will be paid on April 3, 2023.

What is the record date for the dividend payment for NEU?

The record date is March 15, 2023.

What are the risks associated with NewMarket Corporation?

Risks include production disruptions, raw material price increases, and regulatory challenges.