25 Feb

LyondellBasell Declared Its First-Quarter Dividend


LyondellBasell declared its first-quarter dividend

In a press release on February 22, LyondellBasell (LYB) announced its first-quarter dividend. To be eligible for the dividend, investors should hold LyondellBasell’s shares in the company’s record as of the close on March 4. LyondellBasell is expected to pay the dividend on March 11.

LyondellBasell Declared Its First-Quarter Dividend

LyondellBasell declared a dividend of $1.00 per share. The dividend indicates that the dividend rate didn’t change on a year-over-year and sequential basis. The last time LyondellBasell increased its dividend was five quarters ago. At the end of the fourth quarter, LyondellBasell had ~385.5 million shares. Assuming that LyondellBasell doesn’t buy back any shares until the record date, it will pay $385.5 million in dividends.

Stock performance

LyondellBasell stock remained positive. The stock rose ~1.7% last week and closed at $89.14. The gain in the stock price helped the company narrow down its 100-day moving average price gap. The stock traded 0.7% below its 100-day moving average price of $89.78.

On a year-to-date basis, the stock has risen 8.2%%. Celanese (CE), Westlake Chemical (WLK), and Eastman Chemical (EMN) have risen 15.9%, 17%, and 16.8%, respectively. LyondellBasell’s 14-day relative strength index of 59 indicates that the stock isn’t overbought or oversold.

Investors could hold LyondellBasell indirectly by investing in the Invesco S&P 500 Equal Weight Materials ETF (RTM), which rose 2.6% last week. RTM invested 3.9% of its portfolio in LyondellBasell as of February 22.

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