Westlake Chemical Corporation (WLK) will raise its quarterly dividend by 5.0 percent to $0.2625 per share in 2019. This marks the 15th consecutive year of annual dividend increases by the global manufacturer and marketer of basic chemicals, vinyls, polymers and building products

The next dividend will be payable on September 11, 2019, to stockholders of record on August 27, 2019. A new annualized dividend rate of $1.05 per share yields 1.7% at a stock price of $61.25.

In today's press release the company states that this is the 60th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004.

Westlake Chemical Corporation is a 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. The company's operating segments are Olefins and Vinyls. Westlake Chemical began operations in 1986 after its first polyethylene plant, an Olefins segment business, near Lake Charles, Louisiana was acquired from Occidental Petroleum Corporation. The company has paid a dividend every year since completing its initial public offering in August 2004.