Westlake Chemical (NYSE:WLK) is adding a few cents to its shareholder payout. The company has declared its latest quarterly dividend, which is to be $0.225 per share paid on Sept. 25 to shareholders of record as of Sept. 10. That amount is $0.0375, or 20%, higher than Westlake Chemical's previous distribution of $0.1875 handed out in June.

The company is a consistent and reliable dividend payer. In the press release announcing the increase, it pointed out that the upcoming distribution will be its 36th quarterly payout in a row.

The new dividend annualizes to $0.90 per share. That yields 0.9% at Westlake Chemical's most recent closing stock price of $103.31.

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