Dividend Coverage: This Basic Materials Stock has a Dividend Yield of 3.99%; Will Trade Ex-Dividend on September 01, 2017

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily takes a closer look at LyondellBasell Industries N.V. (NYSE: LYB) as the Company’s stock will begin trading ex-dividend on September 01, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of trading session on August 31, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On August 23, 2017, LyondellBasell announced that its Supervisory Board has authorized the Company’s Management Board to declare a dividend of $0.90 per share. The dividend will be paid September 13, 2017, to shareholders of record September 06, 2017, with an ex-dividend date of September 01, 2017.

LyondellBasell’s indicated dividend represents a yield of 3.99%, which is substantially above the average dividend yield of 2.54% for the Basic Materials sector. LyondellBasell has raised dividend for 5 consecutive years.

Dividend Insights

LyondellBasell has a dividend payout ratio of 36.1%, which means that the Company distributes approximately $0.36 for every $1.00 earned. The dividend payout ratio reflects how much money a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, LyondellBasell is forecasted to report earnings of $9.10 for the next year which is more than double its annualized dividend of $3.60.

LyondellBasell’s cash and liquid investment balance was $2.6 billion at June 30, 2017. The Company generated $1.2 billion of free cash flow during Q2 2017 and paid dividends of $361 million during the second quarter of 2017. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.

Recent Development for LyondellBasell

On July 21, 2017, LyondellBasell announced the final investment decision to build the world’s largest propylene oxide (PO) and tertiary butyl alcohol (TBA) plant in the Houston area. The project is estimated to cost approximately $2.4 billion, representing the single-largest capital investment in the Company’s history. At the peak of construction, the project is expected to create up to 2,500 jobs and approximately 160 permanent positions when operational.

The Company has completed front-end engineering design work and received the required environmental permits. Site preparation is underway and construction is expected to begin during the second half of 2018. It is anticipated the project will be completed by the middle of 2021.

About LyondellBasell

LyondellBasell is one of the largest plastics, chemicals, and refining companies in the world. Driven by a workforce of 13,000 around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges such as, 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 and polypropylene technologies.

Stock Performance

At the closing bell, on Wednesday, August 30, 2017, LyondellBasell Industries’ stock slightly climbed 0.81%, ending the trading session at $90.33. A total volume of 2.19 million shares have exchanged hands. The Company’s stock price surged 1.20% in the past one month, 12.14% in the last three months and 13.00% in the previous twelve months. Moreover, the stock gained 5.30% since the start of the year. The stock is trading at a PE ratio of 10.03 and has a dividend yield of 3.99%. The stock currently has a market cap of $35.46 billion.

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