LyondellBasell declares fourth quarter dividend
On November 18, 2016, LyondellBasell (LYB) declared a fourth quarter dividend of $0.85 per share. The dividend will be paid on December 13, 2016, with a record date of November 29 and an effective date of November 25, 2016.
In 2015, LyondellBasell paid a cash dividend of $3.04 per share, totaling $1.4 billion. In the first nine months of 2016, LyondellBasell has paid $1.1 billion in dividends. Taking into account the dividend for 4Q16, LyondellBasell’s dividend for 2016 stood at $3.33 per share, implying an increase in dividend of ~9.5% over the previous year.
In other news, LyondellBasell will participate in Citi’s Basic Materials Conference to be held on November 29, 2016. The conference will take place at the Ritz-Carlton New York. LyondellBasell’s Jim Guilfoyle, senior vice president of Global Intermediates & Derivatives and Global Supply Chain, will address investors.
LyondellBasell’s stock price
For the week ended November 18, 2016, LyondellBasell closed at $83.12 and rose 1.1% for the week. LyondellBasell’s stock price traded 5.9% above the 100-day moving average price of $78.49, indicating an upward trend in the stock. However, on a year-to-date basis, LyondellBasell has fallen 4.4%. LyondellBasell has a 14-day relative strength index of 61, indicating that the stock is neither overbought nor oversold. LyondellBasell underperformed the iShares Edge MSCI Multifactor Materials ETF (MATF), which rose 3.9% for the week ended November 18, 2016.
As of November 18, 2016, the iShares Edge MSCI Multifactor Materials ETF holds 6.9% in LyondellBasell. The top holdings of MATF include Dow Chemical (DOW), DuPont (DD), and Nucor (NUE), which have weights of 11.9%, 8.0%, and 5.5%, respectively, for the same period.