Westlake Chemical Corporation (WLK) will raise its quarterly dividend by 10.2 percent to 29.75 cents per share in 2021. This follows a 2.9 percent dividend hike by the global manufacturer and marketer of basic chemicals, vinyls, polymers and building products last year.

The next dividend will be payable on September 8, 2021. The dividend yield for WLK is 1.4%.

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.