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NewMarket Corp., a holding company for manufacturers of petroleum additives and lubricants, said Thursday it is raising its quarterly dividend by 15 cents, or 25 percent, to 75 cents per share.

The Richmond, Va.-based company will pay the dividend on Jan. 1, 2012, to shareholders of record as of Dec. 15.

Shares rose $15.44, or 8.5 percent, to close at $197.78. Shares briefly reached a new 52-week high of $198.38 during the day. They climbed $1.22 in after-market trading. Shares are up 60 percent since the beginning of the year.

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