LyondellBasell Declares Special Dividend, Raises Quarterly Dividend

LyondellBasell’s board has authorized a $4.50/share one-time dividend payable on December 16. The $2.6 billion dividend will be financed by existing cash and a previously announced $1 billion senior debt financing, which was completed today. It will be payable to shareholders of record as of November 25. The new debt carries an interest rate of 6%, and is due in 2021.   The company has also announced a 25% increase in its regular quarterly dividend, to 25 cts/share. The new quarterly dividend will also be paid on December 16 to shareholders of record...

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