Sector News

LyondellBasell raises quarterly dividend by 5%, CFO to retire at year-end

May 31, 2019
Chemical Value Chain

LyondellBasell Industries said Friday it is raising its quarterly dividend by 5% to $1.05 a share. The new dividend will be payable June 17 to shareholders of record as of June 10. The company said shareholders at its annual meeting voted to approve a share buyback of up to 10% of its outstanding shares in the next 18 months.

Separately, the plastics and chemicals company said its Chief Financial Officer Thomas Aebischer is planning to retire at year-end. The company will be conducting a search for his replacement in the next few months. Shares were not yet active premarket, but have fallen 7% in 2019 to date, while the S&P 500 has gained 11%.

By Ciara Linnane

Source: MarketWatch

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