LyondellBasell Announces $5.20 Special Dividend and Increases Quarterly Dividend by 5 Percent

Rhea-AI Summary

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.

Positive

• Declared a special dividend of $5.20 per share.
• Quarterly dividend increased to $1.19, a 5% rise from Q1 2022.
• Total return to shareholders expected to reach $2.1 billion.
• Confidence in cash generation from strong markets and asset investments.
• 12th consecutive year of regular dividend growth.

Negative

• None.

HOUSTON and LONDON, May 27, 2022 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced its board of directors has declared a special dividend of $5.20 per share and a quarterly dividend of $1.19 per share. The quarterly dividend represents a 5 percent increase over the company's first quarter 2022 dividend. The special and quarterly dividends will both be paid on June 13, 2022 to shareholders of record as of June 6, 2022, with an ex-dividend date of June 3, 2022. 

"LyondellBasell established new records for cash generation in 2021 and we have a strong outlook for our company. Capital returns have always been an important component of LyondellBasell's value proposition for shareholders. 2022 will mark our 12th consecutive year of regular dividend growth.  The combination of today's special and quarterly dividends returns $2.1 billion to shareholders.  As the incoming CEO, I would like to make it very clear that I support the continuation of our balanced and disciplined capital allocation strategy with both dividends and share repurchases playing a central role," said Peter Vanacker, CEO of LyondellBasell.

"As a management team, we are confident that strong markets for our products and accretive growth underway from investments in our asset base will continue to provide significant cash generation.  Our investment-grade balance sheet, disciplined approach to growth and focus on safety, sustainability and circularity provide a powerful foundation for advancing LyondellBasell's leading positions over the coming years," said Vanacker.

About LyondellBasell

As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce.  The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year. For more information, please visit www.LyondellBasell.com or follow @LyondellBasell on LinkedIn.

 

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SOURCE LyondellBasell Industries

FAQ

What is the dividend amount declared by LyondellBasell in May 2022?

LyondellBasell declared a special dividend of $5.20 per share.

When will LyondellBasell pay its quarterly dividend in 2022?

The quarterly dividend will be paid on June 13, 2022.

What is the percentage increase in LyondellBasell's quarterly dividend?

The quarterly dividend was increased by 5% from the first quarter of 2022.

What is the total return to shareholders announced by LyondellBasell?

The total return to shareholders is estimated at $2.1 billion.

When is the ex-dividend date for LyondellBasell's dividends?

The ex-dividend date is June 3, 2022.