IHS Chemical Week

Markets :: Plastics :: Polypropylene

LyondellBasell Increases Dividend

9:23 AM MDT | May 11, 2012 | Lindsay Frost

LyondellBasell is increasing its dividend by 60%, effective June 11, to shareholders on record as of May 21. The 40 cts/share payments are subject to approval by the management board, expected by May 21. The first quarter dividends were paid at 25 cts/share. "The 60% dividend increase reflects our significant operational and commercial improvements over the past two years coupled with our most recent debt restructurings,” says Karyn Ovelmen, LyondellBasell executive v.p. and CFO. “The refinancing of our debt, significant reduction in interests...

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