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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.

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