LyondellBasell Industries NVNYSE: LYB

LyondellBasell (LYB), through this partnership, can contribute to the elimination of plastic waste in the environment and the development of solutions for everyday sustainable living.

With this hike, LyondellBasell (LYB) will increase its dividend for the 14th consecutive year in 2024.

LyondellBasell Industries NV said Friday that it raised its dividend by 7%, reinforcing the chemicals and plastics resins company's position as having the highest-yielding stock among its materials-sector peers.

HOUSTON and LONDON , May 24, 2024 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced its board of directors has declared a quarterly dividend of $1.34 per share, representing a 7 percent increase over the company's first quarter 2024 dividend. The dividend will be paid to shareholders on June 10, 2024, with an ex-dividend and record date of June 3, 2024.

The new product grades demonstrate how LyondellBasell (LYB) is developing solutions for everyday sustainable living.

This distribution center in Hungary is a notable expansion for LyondellBasell's (LYB) worldwide presence.

LyondellBasell, a Dutch chemical company operating in various countries, reported revenues exceeding $40 billion and $5 billion in operating cash flow in 2023. The company has a track record of robust cash generation, delivering a 16.9% annual return to investors through buybacks and dividends. Following a challenging 2023, LyondellBasell anticipates increased demand, improved pricing, and higher gasoline crack spreads in the future.

LyondellBasell Industries N.V. (NYSE: LYB) Q1 2024 Earnings Conference Call on April 26, 2024 at 11:00 AM ET. Company participants include David Kinney, Peter Vanacker, Michael McMurray, Kim Foley, Aaron Ledet, and Torkel Rhenman. Conference call participants include Steve Byrne, Patrick Cunningham, Frank Mitsch, Matthew Blair, Jeff Zekauskas, Josh Spector, Hassan Ahmed, Kevin McCarthy, and Vincent Andrews. Operator: Welcome to the LyondellBasell Teleconference.

The decrease in natural gas feedstock and energy expenses in North America helped boost LyondellBasell's (LYB) margins for olefins and polyolefins in the first quarter.