Lyondellbasell Industries N V Stock Price, News & Analysis

LyondellBasell (NYSE: LYB) announced a special dividend of $5.20 per share and increased its quarterly dividend to $1.19, marking a 5% rise from Q1 2022. Both dividends will be paid on June 13, 2022, with an ex-dividend date of June 3. The total return to shareholders is estimated at $2.1 billion. Incoming CEO Peter Vanacker emphasized a disciplined capital allocation strategy, including dividends and share repurchases, as well as a strong outlook for cash generation fueled by robust markets and investments in their asset base.

LyondellBasell (NYSE: LYB) announced that Michael McMurray, the company's CFO, will participate in a fireside chat at the Wells Fargo Industrials Conference on May 5, 2022, at 1:20 p.m. EDT. A live webcast of the event will be available on the company's investor relations page and a replay will be accessible within 24 hours. LyondellBasell is recognized for its commitment to sustainability and was named one of FORTUNE Magazine's 'World's Most Admired Companies' for five consecutive years.

LyondellBasell Industries reported a strong financial performance for Q1 2022, with net income of $1.3 billion and diluted earnings per share of $4.00. The company achieved an EBITDA of $2.0 billion, marking its best Q1 since 2015. Operating cash flow reached $1.5 billion, and the firm returned $0.6 billion to shareholders through dividends and buybacks. Additionally, LyondellBasell announced plans to exit its refining business by the end of 2023, while anticipating robust market demand and product price increases.

LyondellBasell (NYSE: LYB) announced plans to cease operations at its Houston Refinery by December 31, 2023. The decision comes as part of a strategic shift towards advancing the company's decarbonization goals. Despite the refinery's capacity of 268,000 barrels per day, the company aims to focus on potential transactions for the site while continuing to serve the fuels market. Interim CEO Ken Lane emphasized the company's commitment to supporting affected employees during this transition.

LyondellBasell (NYSE: LYB) is set to announce its first-quarter 2022 financial results on April 29, 2022, before U.S. markets open. A follow-up webcast and teleconference led by David Kinney, Head of Investor Relations, will occur at 11:00 a.m. EDT. Participants can access the call via a toll-free number or through a provided webcast link. Presentation slides will be available during the call, and a replay will be accessible from 1:00 p.m. EDT on the same day until May 29, 2022. More details can be found on LyondellBasell's website.

LyondellBasell (NYSE: LYB) has appointed Peter Vanacker as its new chief executive officer, effective May 23, 2022. The Board of Directors made this decision in December 2021. Vanacker, who has over 30 years of industry experience and was previously the President and CEO of Neste, aims to drive sustainable solutions while enhancing operational excellence and financial discipline at LyondellBasell. The company is recognized for its innovative contributions to the chemical industry and has been named one of FORTUNE Magazine's 'World's Most Admired Companies' for five consecutive years.

LyondellBasell's Yarelis Hernandez, site manager at the Clinton, Iowa facility, has received the Women in Manufacturing STEP Ahead Award from the National Association of Manufacturers. This accolade recognizes her leadership and impact in the manufacturing sector. Hernandez oversees over 300 employees and has 24 years of experience at LyondellBasell. She actively supports Diversity, Equity, and Inclusion initiatives and participates in local workforce development efforts. The awards ceremony will take place on April 28 in Washington, D.C.

On March 8, 2022, LyondellBasell (NYSE: LYB) announced that interim CEO Ken Lane will participate in a fireside chat at the J.P. Morgan Industrials Conference on March 16, 2022, at 3:50 p.m. ET. Investors can access a live webcast of the event through the company’s investor relations page, with a replay available within 24 hours post-event. LyondellBasell is a leading player in the global chemical industry, recognized for its commitment to sustainability and innovation, including efforts to combat plastic waste and accelerate climate initiatives.