Wed 17 Dec 2008, 09:50 GMT

Lubrizol declares quarterly dividend


Marine fuel additives supplier to pay shareholders in March 2009.



Leading marine fuel additives supplier The Lubrizol Corporation has announced that its board of directors has declared a regular quarterly dividend of 31 cents per share.

The dividend will be payable on March 10th 2009 to shareholders of record at the close of business on February 10th 2009.

The company reported strong financial results for the third quarter of 2008, despite a challenging environment. This included a 22 percent growth in revenues to a record $1.36 billion and consolidated earnings of $63.2 million, or $0.92 per diluted share.

Comparable earnings for the third quarter of 2007 were $71.4 million, or $1.02 per diluted share, which included after-tax restructuring and impairment charges of $1.4 million, or $.02 per diluted share.

Lubrizol markets marine fuel additives for both marine distillate and residual fuel oils. The company claims its unique proprietary fuel additive technology provides a number of benefits for marine fuels of all types, including a reduction in smoke emissions; stable oil consumption in four stroke engines; reduced lube oil fouling and a reduction of soot in the receiver box of two stroke engines.

The company also offers a full range of gasoline, diesel and biodiesel fuel additives for the bulk market as well as additives for the industrial fuels and home heating oil markets.


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