LyondellBasell Industries (LYB) will raise its quarterly dividend by 11.1 percent to $1.00 per share in the first quarter of 2018. The new yield is 3.7% based on the annual dividend of $4.00 per share.
LyondellBasell has now increased its dividend for seven consecutive years. In 2017 the dividend was hiked by 5.9 percent.
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.