HOUSTON and LONDON, May 31,
2019 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of
the largest plastics, chemicals and refining companies in the
world, today announced that its Board of Directors has declared a
quarterly dividend of $1.05 per share, representing a five
percent increase over the company's first quarter 2019 dividend.
The dividend will be paid June 17, 2019 to shareholders
of record June 10, 2019, with an ex-dividend date of June
7, 2019.
"LyondellBasell's commitment to providing a progressively
growing dividend for our shareholders is the foundation of our
capital deployment strategy," said Bob Patel, CEO of
LyondellBasell. "This represents the eleventh increase since we
began paying quarterly dividends in 2011."
The company also announced at its Annual General Meeting
on May 31, 2019, shareholders approved a share repurchase
program authorizing the company to repurchase up to 10 percent of
the company's shares over the next 18 months. The repurchases will
be executed from time to time through open market or privately
negotiated transactions. LyondellBasell had approximately 370
million shares outstanding as of May 29, 2019.
Cautionary Statement
This press release contains
forward-looking statements. Actual outcomes and results may differ
materially from what is expressed or forecast in such
forward-looking statements. These statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. The share repurchase
program and dividend policy may be suspended or discontinued at any
time. Additional factors that could cause actual results to differ
from forward-looking statements include, but are not limited to,
availability, cost and price volatility of raw materials and
utilities; supply/demand balances; industry production capacities
and operating rates; uncertainties associated with worldwide
economies; legal, tax and environmental proceedings; cyclical
nature of the chemical and refining industries; operating
interruptions; current and potential governmental regulatory
actions; terrorist acts; international political unrest;
competitive products and pricing; technological developments; the
ability to comply with the terms of our credit facilities and other
financing arrangements; the ability to implement business
strategies; and other factors affecting our business generally as
set forth in the "Risk Factors" section of our Form 10-K for the
year ended December 31, 2018, which can be found
at www.lyb.com on the Investor Relations page and on the
Securities and Exchange Commission's website
at www.sec.gov.
About LyondellBasell
LyondellBasell (NYSE: LYB) is
one of the largest plastics, chemicals and refining companies in
the world. Driven by its employees around the globe, LyondellBasell
produces materials and products that are key to advancing solutions
to modern challenges like enhancing food safety through lightweight
and flexible packaging, protecting the purity of water supplies
through stronger and more versatile pipes, improving the safety,
comfort and fuel efficiency of many of the cars and trucks on the
road, and ensuring the safe and effective functionality in
electronics and appliances. LyondellBasell sells products into more
than 100 countries and is the world's largest producer of polymer
compounds and the largest licensor of polyolefin technologies. In
2019, LyondellBasell was named to Fortune magazine's list of the
"World's Most Admired Companies." More information about
LyondellBasell can be found at www.LyondellBasell.com.
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SOURCE LyondellBasell