A method of making a dehydrogenation catalyst can comprise: combining precursors in water to form a mixture; adding base to the mixture to form a slurry having a pH of 7 to 8.5; aging the slurry at a temperature of greater than or equal to 40° C. while agitating; filtering a precipitate from the aged slurry to collect a catalyst precursor; drying and calcining the catalyst precursor to form the catalyst; wherein the catalyst has the formula (I) FeZnaCobMgcCadCleMfOx (I) wherein the amounts are in mole ratios relative to 1 mole of iron, "a" is 0.07 to 0.7 moles; "b" is 0.01 to 0.20 moles; "c" is less than or equal to 0.40 moles; "d" is less than or equal to 0.40 moles; "e" is less than or equal to 0.10 moles; "f" is less than or equal to 0.20 moles, and wherein greater than about 88% of the initial zinc is recovered.