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.
Fool contributor Eric Volkman has no position in Westlake Chemical. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.