Westlake Chemical Corporation (WLK) will raise its quarterly dividend by 19 percent to $0.25 per share in 2018. This marks the second year in which the dividend has been raised by double digits.

The next dividend will be payable on September 12, 2018 to stockholders of record on August 28, 2018. The new annual dividend of $1.00 per share yields 1.0% at a stock price of $95.59.

This is the 56th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004. The average annual dividend growth in the previous five years was 17.5 percent.

Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative products, PVC suspension and specialty resins, PVC Compounds, and PVC building products including siding, pipe, fittings and specialty components, windows, fence, deck and film.