Published on 28 May 2024 on Zacks via Yahoo Finance
LyondellBasell (LYB) Announces 7% Hike in Quarterly Dividend
LyondellBasell Industries N.V. LYB recently announced that its board of directors has approved a quarterly dividend of $1.34 per share, marking a 7% increase from its first-quarter 2024 payout. The dividend will be distributed to shareholders on Jun 10, 2024, with an ex-dividend and record date of Jun 3, 2024.LyondellBasell's dividend increase underlines the company's confidence in its ability to navigate changing markets, unlock value through a focused new strategy and boost shareholder returns. With this hike, LyondellBasell will increase its dividend for the 14th consecutive year in 2024.The company remains committed to providing additional value to its shareholders by utilizing strong cash flows. It generated $4.9 billion in cash from operating activities in 2023. During the year, it returned around $1.8 billion to shareholders via dividends and share repurchases. In the latest reported quarter, the company paid out $408 million in dividends to shareholders.Shares of LyondellBasell have gained 12.9% over the past year compared with a 2.8% rise of its industry.
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