LyondellBasell Industries NV (NYSE:LYB) declared a dividend on Friday, November 30th, Fidelity reports. Shareholders of record on Monday, December 10th will be given a dividend of 1.00 per share by the specialty chemicals company on Monday, December 17th. The ex-dividend date of this dividend is Friday, December 7th. This is a boost from LyondellBasell Industries’s previous dividend of $0.78.
LyondellBasell Industries has raised its dividend payment by an average of 9.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. LyondellBasell Industries has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect LyondellBasell Industries to earn $11.34 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 35.3%.
NYSE LYB opened at $93.31 on Friday. The company has a market capitalization of $35.80 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 0.83 and a beta of 1.24. LyondellBasell Industries has a fifty-two week low of $85.60 and a fifty-two week high of $121.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.82 and a quick ratio of 1.09.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc bought 1,602,455 shares of LyondellBasell Industries stock in a transaction dated Thursday, November 8th. The stock was bought at an average cost of $95.65 per share, for a total transaction of $153,274,820.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have bought 4,396,236 shares of company stock valued at $418,088,113. Company insiders own 0.09% of the company’s stock.
A number of equities analysts have weighed in on the company. BMO Capital Markets upped their price target on LyondellBasell Industries from $111.00 to $112.00 and gave the stock a “market perform” rating in a report on Tuesday, August 7th. Cowen upped their price target on LyondellBasell Industries from $110.00 to $113.00 and gave the stock a “market perform” rating in a report on Friday, August 10th. BNP Paribas assumed coverage on LyondellBasell Industries in a report on Tuesday, October 2nd. They issued an “outperform” rating and a $129.00 price target for the company. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Thursday, August 9th. Finally, Standpoint Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $116.88.
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LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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