25 Feb

LyondellBasell Declared Its First-Quarter Dividend

WRITTEN BY Peter Neil

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.

Latest articles

Alphabet’s Waymo One plans to start using driverless cars for its autonomous taxis. The service is available to a small group of customers in Phoenix.

Hexo (HEXO) had a hard time last week. A lot of headwinds pulled the stock down. However, the stock rose and closed with a gain of 17% on Thursday.

Elliott Management expects AT&T stock to reach $60.0 by the end of 2021 if it adopts the restructuring plan. The stock has a potential upside of almost 60%.

Tesla (TSLA) stock is having a strong run this month. After a weak start, the stock has closed with gains for nine consecutive trading days.

Chipotle is scheduled to report its third-quarter earnings on October 22. Despite the rise in the stock, Chipotle's earnings could drive the stock more.

The Cannabis 2.0 era has officially started. Now, Canadians can legally access a host of cannabis-infused products like beverages, vapes, and edibles.