LyondellBasell Industries N.V. (NYSE:LYB) Announces $0.69 Quarterly Dividend

LyondellBasell Industries N.V. (NYSE:LYB) declared a quarterly dividend on Friday, August 14th. Stockholders of record on Monday, August 24th will be given a dividend of 0.69 per share by the specialty chemicals company on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, August 24th.

LyondellBasell Industries has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 14 consecutive years. LyondellBasell Industries has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect LyondellBasell Industries to earn $6.31 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 43.7%.

LyondellBasell Industries Stock Up 2.2%

Shares of LYB traded up $1.36 during mid-day trading on Friday, reaching $63.76. The company’s stock had a trading volume of 1,715,362 shares, compared to its average volume of 6,544,060. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94. The stock has a market cap of $20.60 billion, a PE ratio of -56.42, a price-to-earnings-growth ratio of 0.17 and a beta of 0.31. The company’s 50 day moving average is $59.39 and its 200 day moving average is $64.56.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.86. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. Equities analysts anticipate that LyondellBasell Industries will post 9.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and increased their target price for the company from $75.00 to $80.00 in a research report on Monday, August 3rd. Morgan Stanley cut their price target on shares of LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, July 20th. Evercore boosted their price target on shares of LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. Finally, The Goldman Sachs Group upped their price objective on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.56.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.