LyondellBasell Industries N.V. - LYB STOCK NEWS

LyondellBasell (NYSE: LYB) declared a quarterly dividend of $1.19 per share, set for payment on December 5, 2022. Shareholders of record as of November 28, 2022 will be eligible, with an ex-dividend date of November 25, 2022. The company continues to emphasize sustainability and has been recognized as one of FORTUNE Magazine's "World's Most Admired Companies" for five consecutive years. This dividend showcases LyondellBasell's strong commitment to returning value to its shareholders.

LyondellBasell (NYSE: LYB) is considering a significant expansion of its propylene production capacity at its Channelview Complex in Houston, TX. The proposed project aims to build a new facility that would convert ethylene into propylene, increasing annual capacity by 950 million pounds and creating 10-15 jobs. This expansion, which could boost capacity by over 35%, is anticipated to have better economics and lower carbon emissions than competing technologies. A final investment decision is expected by late next year.

LyondellBasell (NYSE: LYB) will have CFO Michael McMurray participate in a fireside chat at the Morgan Stanley Global Chemicals, Agriculture and Packaging Conference on November 9, 2022, at 8 a.m. ET. This event will be accessible via a live webcast, with a replay available within 24 hours. LyondellBasell is recognized for its commitment to sustainability and diverse market solutions, being named one of FORTUNE's "World's Most Admired Companies" for five consecutive years. The company focuses on addressing plastic waste and decarbonization in over 100 international markets.

LyondellBasell Industries reported a net income of $572 million for Q3 2022, equating to $1.75 per share. Excluding identified items, net income was $642 million, or $1.96 per share. EBITDA stood at $1.1 billion, with $1.2 billion when adjusted for identified items. The company generated $1.4 billion in cash from operations and returned over $550 million to shareholders through dividends and share repurchases. Despite a stable demand for consumer packaging, challenges from higher energy costs and weaker markets impacted margins.

LyondellBasell and Shakti Plastic Industries have signed a Memorandum of Understanding to establish a joint venture for a fully-automated mechanical recycling plant in India. This facility will process post-consumer waste, producing 50,000 tonnes of recycled polyethylene and polypropylene annually, equivalent to the waste generated by 12.5 million citizens. The plant, expected to be operational by late 2024, aims to enhance LyondellBasell's Circulen Recover range, addressing the rising demand for recycled materials in India.

Air Liquide, Chevron (CVX), LyondellBasell (LYB), and Uniper have announced a collaborative study to evaluate the development of a hydrogen and ammonia production facility along the U.S. Gulf Coast. This project aims to support decarbonization efforts and increase clean ammonia exports. The consortium intends to utilize each participant's expertise in various technologies, focusing on producing hydrogen through natural gas with carbon capture and renewable hydrogen via electrolysis. The development could leverage existing Gulf Coast infrastructure for lower carbon energy supplies.

LyondellBasell (LYB) will announce its Q3 2022 financial results before the U.S. market opens on October 28, 2022. A webcast and teleconference will follow at 11:00 a.m. EDT to discuss these results, hosted by David Kinney, Head of Investor Relations. Interested parties can access the webcast 10 to 15 minutes prior at www.lyondellbasell.com/earnings. A replay will be available after the call until November 29, 2022. LyondellBasell is committed to advancing sustainable solutions in the chemical industry.

LyondellBasell and 23 Oaks Investments have established a joint venture, Source One Plastics, to create a state-of-the-art plastic waste sorting and recycling facility in Germany. This facility aims to process plastic packaging waste generated by 1.3 million citizens annually, converting hard-to-recycle plastics into feedstock for new materials using advanced MoReTec technology. The initiative aligns with LyondellBasell's sustainability goals to produce 2 million tonnes of recycled polymers by 2030, supporting a circular economy.

LyondellBasell has begun operations at a new catalyst production plant in Frankfurt, Germany. This expansion aligns with investments in infrastructure and rising demand for high-performance polyethylene (PE) resins, particularly in emerging markets. The new facility will enhance the supply of Ziegler Avant Z catalysts for global customers. With over 60 years of experience and multiple production sites, LyondellBasell is committed to addressing the increased demand for catalysts essential for safely transporting water and storing food.