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
Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.
TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.
