LyondellBasell Announces 7.6 Percent Increase to Quarterly Dividend
LyondellBasell (NYSE: LYB) announced a quarterly dividend increase of $1.13 per share, marking a 7.6% rise from the previous quarter.
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Rhea-AI Summary
LyondellBasell (NYSE: LYB) announced a quarterly dividend increase of $1.13 per share, marking a 7.6% rise from the previous quarter. This dividend will be paid on June 14, 2021, to shareholders on record as of June 7, 2021, with an ex-dividend date set for June 4, 2021. CEO Bob Patel emphasized the company's strategic investments that have strengthened earnings and expressed confidence in delivering consistent returns to shareholders, aiming for 11 consecutive years of annual dividend growth.
Positive
- Quarterly dividend raised to $1.13, a 7.6% increase.
- On track for 11 consecutive years of dividend growth.
- Strategic investments have enhanced earnings power.
Negative
- None.
Details
News Market Reaction – LYB
The recorded move for LYB in the trading session of this news was -0.83%.
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HOUSTON and LONDON, May 28, 2021 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, today announced that its Board of Directors has declared a quarterly dividend of
"Over the past three years, LyondellBasell's strategic investments have increased our earnings power at all points in the cycle. The stronger dividend reflects confidence in our ability to consistently provide leading returns for LyondellBasell shareholders," said Bob Patel, CEO of LyondellBasell. "With this dividend increase, we are on track to post our eleventh consecutive year of annual dividend growth in 2021."
About LyondellBasell
LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. In 2021, LyondellBasell was named to FORTUNE Magazine's list of the "World's Most Admired Companies" for the fourth consecutive year. More information about LyondellBasell can be found at www.lyondellbasell.com.
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SOURCE LyondellBasell Industries
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