Westlake Corp ticker dps (an.) 2023 hike 2022 hike 2021 hike
Business yield Hike yrs 5 yr CAGR freq. paid since

On August 14, 2023, commodity chemicals manufacturer Westlake Corporation (WLK) announced a 40.1% dividend increase to $0.50 quarterly per share. This follows a dividend hike of 20.0 percent last year by WLK. The global manufacturer and marketer of basic chemicals, vinyls, polymers and building products has now raised the dividend 19 straight years.

 The next WLK dividend will be payable on September 12, 2023, to stockholders of record on August 25, 2023. This is the 76th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004. At a stock price of $133.92 the dividend yield is 1.5%.

Westlake Corp (WLK) Dividend history & statistics
Company name Westlake Corporation
Ticker symbol WLK
ISIN-code US9604131022
company website https://www.westlake.com/
Sector Materials
Business Olefins & Vinyls
Dividend paid since 2004
Track record (years increased) 19
Payment Frequency Quarterly dividend
Dividend growth: 5 year average 14.9%
Next dividend per share $0.50
Annual dividend per share $2.00
Dividend yield* 1.5%
Stock price* $133.78
YTD Total Return* 29.7%
Next ex-dividend date August 24, 2023
Next payment date September 12, 2023
Market cap (in $B)* 17.08
Total dividend (in $B) 0.26
© www.dividendhike.com *As of August 14, 2023

“The significant increase in our dividend reflects the strong cash generative business model as we have continued our growth at Westlake,” said Albert Chao, president and chief executive officer of Westlake. “Our Investments in differentiated and specialty products in our Performance and Essential Material (PEM) segment and leading market positions in downstream building products in our Housing and Infrastructure Products (HIP) segment has enhanced the stability of our earnings profile, while our globally advantaged low-cost position provides strong cash generation throughout the business cycle. Alongside our conservatively positioned, strong investment grade balance sheet this supports a meaningfully higher dividend level while continuing to provide us significant capacity to invest in our business to drive long-term shareholder return.”

This is the 76th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004.

Westlake Corporation (formerly Westlake Chemical) 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.

Dividend Calendar

Look at the complete list of upcoming events
Ex-date Ticker Yield YTD hike
Sep 21 MDT 3.3% 1.5%
Sep 21 IFF 4.8% 0.0%
Sep 22 WRB 0.7% 10.0%
Sep 22 ES 4.2% 5.9%
Sep 25 GE 0.3% 0.0%
Sep 25 EQR 4.3% 6.0%
Sep 26 SRE 3.2% 3.9%
Sep 26 PM 5.4% 2.4%
Sep 27 COP 1.6% 0.0%
Sep 28 DE 1.3% 12.5%