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Chemical Week Magazine :: Business & Finance :: United States/Americas

LyondellBasell to repurchase up to 10% of shares

9:44 AM MDT | May 31, 2013 | —Clay Boswell

LyondellBasell Industries intends to repurchase up to 10% of its outstanding stock over the next 12 months, the company announced on 22 May. The repurchase program would be valued at $3.8 billion based on LyondellBasell’s current share price. The company’s supervisory board also authorized an interim dividend of 50 cts/share, an increase of 25% over the company’s first-quarter interim dividend. “The 10% share repurchase program and the significant increase in the regular interim dividend is reflective of our outlook, capital growth...

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