LyondellBasell (LYB) will raise its quarterly dividend to $0.90 per share.

The interim dividend will be paid June 12, 2017 to shareholders of record June 5, 2017, with an ex-dividend date of June 1, 2017.

"This dividend increase represents the eighth increase since we began paying dividends in 2011," said Bob Patel, LyondellBasell CEO. "The increase announced today reflects our commitment to provide strong returns to our shareholders and the confidence we have in our ability to consistently generate strong cash flows through market cycles."

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.