LYB Announces 7 Percent Increase to Quarterly Dividend

Rhea-AI Summary

LyondellBasell (NYSE: LYB) has announced a 7% increase in its quarterly dividend, raising it to $1.34 per share.

This marks the 14th consecutive year of annual dividend growth for the company. The dividend will be distributed to shareholders on June 10, 2024, with an ex-dividend date of June 3, 2024.

The increase underscores LyondellBasell's confidence in its new strategy and its ability to navigate market dynamics and enhance shareholder returns.

Positive

• 7% increase in quarterly dividend to $1.34 per share.
• 14th consecutive year of annual dividend growth.
• Dividend distribution date set for June 10, 2024.
• Ex-dividend date of June 3, 2024.
• Enhanced shareholder returns as part of new strategic focus.

Negative

• No specific financial performance data provided.
• No details on underlying factors driving the dividend increase.

HOUSTON and LONDON, May 24, 2024 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced its board of directors has declared a quarterly dividend of $1.34 per share, representing a 7 percent increase over the company's first quarter 2024 dividend. The dividend will be paid to shareholders on June 10, 2024, with an ex-dividend and record date of June 3, 2024.

"Today's 7 percent dividend increase reflects LyondellBasell's confidence in our ability to navigate dynamic markets, unlock value with our focused new strategy and grow shareholder returns," said LYB CEO Peter Vanacker. "The increased dividend will mark 2024 as our 14th consecutive year of annual dividend growth."

About LyondellBasell
We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

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SOURCE LyondellBasell

FAQ

What is the new quarterly dividend for LYB?

LyondellBasell has increased its quarterly dividend to $1.34 per share.

When will LYB's increased dividend be paid?

The dividend will be paid on June 10, 2024.

What is the ex-dividend date for LYB's new dividend?

The ex-dividend date is June 3, 2024.

How much did LYB increase its dividend by?

LyondellBasell increased its dividend by 7%.

How many consecutive years has LYB increased its dividend?

2024 marks the 14th consecutive year of annual dividend growth for LyondellBasell.