The Board of Directors of Alcoa declared (a) a quarterly common stock dividend of 3 cents per share payable May 25, 2011 to shareholders of record at the close of business on May 16, 2011 and (b) a quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock payable July 1, 2011 to shareholders of record at the close of business on June 10, 2011.