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

comments closed

Related News

May 15, 2022

New York’s EPR and packaging reduction bills lauded as game-changers in plastic pollution battle

Chemical Value Chain

The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.

May 15, 2022

Borealis and Reclay launch entity focused on lightweight packaging 

Chemical Value Chain

The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.

May 15, 2022

Starbucks and Hubbub launch reusable packaging fund as COVID-19 diminishes consumer appetite

Chemical Value Chain

Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.