HOUSTON and LONDON, Feb. 23, 2018 /PRNewswire/ -- LyondellBasell (NYSE: LYB), today announced that its Supervisory Board has authorized the company's Management Board to declare a dividend of $1.00 per share, an 11 percent increase over the company's fourth quarter 2017 dividend of $0.90 per share. The dividend will be paid March 12, 2018 to shareholders of record March 5, 2018, with an ex-dividend date of March 2, 2018.
"A strong and progressive dividend is at the core of LyondellBasell's capital deployment hierarchy," said Bob Patel, CEO of LyondellBasell. "This double-digit increase reflects confidence in our ability to continue to provide leading returns to shareholders through business cycles."
The amount and timing of future dividends will depend on, and be subject to, market conditions, general economic conditions, applicable legal requirements and other corporate considerations. The dividend policy may be suspended or discontinued at any time.
Forward looking statements
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. 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 political 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 financial agreements; 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, 2017, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov
LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 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, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies. In 2018, 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.