LyondellBasell Industries NV (LYB) To Go Ex-Dividend on September 1st
LyondellBasell Industries NV (NYSE:LYB) announced a quarterly dividend on Wednesday, August 23rd, NASDAQ reports. Investors of record on Wednesday, September 6th will be paid a dividend of 0.90 per share by the specialty chemicals company on Wednesday, September 13th. This represents a $3.60 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Friday, September 1st.
LyondellBasell Industries NV has increased its dividend payment by an average of 18.5% annually over the last three years and has increased its dividend every year for the last 5 years. LyondellBasell Industries NV has a payout ratio of 36.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect LyondellBasell Industries NV to earn $9.00 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 40.0%.
Shares of LyondellBasell Industries NV (NYSE:LYB) opened at 90.33 on Thursday. The company has a market cap of $35.75 billion, a P/E ratio of 10.08 and a beta of 1.06. LyondellBasell Industries NV has a 12 month low of $74.02 and a 12 month high of $97.64. The company’s 50-day moving average price is $87.52 and its 200-day moving average price is $86.42.
LyondellBasell Industries NV (NYSE:LYB) last announced its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.14. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.56 earnings per share. Equities analysts forecast that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.
LYB has been the subject of a number of research reports. Bank of America Corporation downgraded LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and decreased their target price for the company from $98.00 to $70.00 in a research note on Monday, May 8th. Vertical Research upgraded LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Tuesday, May 9th. Jefferies Group LLC restated a “hold” rating and issued a $88.00 target price on shares of LyondellBasell Industries NV in a research note on Friday, June 16th. UBS AG restated a “neutral” rating and issued a $85.00 target price (down from $94.00) on shares of LyondellBasell Industries NV in a research note on Sunday, June 25th. Finally, HSBC Holdings plc initiated coverage on LyondellBasell Industries NV in a research note on Monday, June 26th. They issued a “buy” rating and a $101.00 target price for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. LyondellBasell Industries NV has an average rating of “Hold” and an average price target of $95.67.
LyondellBasell Industries NV declared that its Board of Directors has approved a share buyback plan on Wednesday, May 24th that authorizes the company to repurchase 1,000% of shares. This repurchase authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.
About LyondellBasell Industries NV
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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