LyondellBasell Industries (LYB) will raise its dividend by 20.0 percent to $0.60 quarterly. Its the second dividend hike this year by the chemicals company. In May Lyondell had already increased its quarterly dividend from $0.40 to $0.50 per share.

At the current stock price of $76.50 the new quarterly dividend yields 3.2%. The ex-dividend date is November 21st.

In 2012 the chemicals company hiked its dividend from 15 cents to 40 cents quarterly per share, marking the first ever dividend increase since the company went public.

LyondellBasell Industries is a plastics, chemicals and refining company. Its chemicals businesses consist of large processing plants that convert large volumes of liquid and gaseous hydrocarbon feedstocks into plastic resins and other chemicals. The company's refining business consists of its Houston refinery, which processes crude oil into refined products such as gasoline, diesel and jet fuel. Lyondell also develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts. The company's six reportable segments are: Olefins and Polyolefins—Americas, Olefins and Polyolefins—Europe, Asia, International, Intermediates and Derivatives, Advanced Polymer Solutions, Refining and Technology. LyondellBasell Industries N.V. was incorporated in the Netherlands in 2009 and became a public company in 2010. A dividend has been paid every year since 2011.