NewMarket Corporation Announces Stock Repurchase Authorization Up To $250M

The Board of Directors of NewMarket Corporation (NYSE: NEU) declared a quarterly dividend in the amount of 75 cents per share on the common stock of the Corporation. The dividend is payable October 1, 2012 to NewMarket shareholders of record at the close of business on September 17, 2012. The Board of Directors approved a new share repurchase program on July 17, 2012 and authorized management to repurchase up to $250 million of NewMarket's outstanding common stock until December 31, 2014, as market conditions warrant and covenants under our existing agreements permit. NewMarket may conduct the share repurchases in the open market and in privately negotiated transactions. The repurchase program does not require NewMarket to acquire any specific number of shares and may be terminated or suspended at any time. The previous authorization, which was valid until December 31, 2012 has been cancelled. It had approximately $60 million of unused repurchase capacity.