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LyondellBasel Hikes Dividend, Boosts Buybacks

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Specialty materials-maker LyondellBasel Industries  (NYSE: LYB  )  announced yesterday that it was raising its quarterly dividend payment by 25%, to $0.50 per share, as well as authorizing the repurchase of up to 10% of the company's outstanding shares.

The board of directors said the first fiscal quarter dividend is payable on June 24 to the holders of record at the close of business on June 3. This will be the fourth increase in the last two years in addition to two special dividends it has paid in that time period.

The share repurchase program will be executed through open market or privately negotiated transactions over the next 12 months.

The new, regular dividend payment equates to a $2.00-per-share annual dividend, yielding 3.1% based on the closing price of LyondellBasel Industries' stock on May 22.

LYB Dividend Chart

LYB Dividend data by YCharts

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Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


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5/23/2016 4:03 PM
LYB $80.10 Down -0.34 -0.42%
LyondellBasell Ind… CAPS Rating: ****