NewMarket Corp., which makes chemical additives for petroleum products, said its board declared a quarterly cash dividend of 37.5 cents per share and approved a new share repurchase program.
The Richmond, Va., company said Wednesday the dividend is payable Oct. 1 to shareholders of record on Sept. 15.
The board also authorized the repurchase up to $200 million of the company's common stock until Dec. 31, 2012.
NewMarket purchased about $64.9 million of its shares in the second quarter, completing a repurchase program that was approved in 2008.
