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LyondellBasell Industries (LYB) Hikes Quarterly Dividend by 5%
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LyondellBasell Industries N.V. (LYB - Free Report) announced a special dividend of $5.20 per share and a quarterly dividend of $1.19 per share. The quarterly dividend reflects a 5% hike from the company's previous quarterly dividend.
The special and quarterly dividends will both be paid on Jun 13, 2022, to stockholders of record as of Jun 6, 2022, with an ex-dividend date of Jun 3, 2022.
LyondellBasell established new records for cash generation in 2021. Capital returns have always been an essential component of LyondellBasell's value proposition for shareholders. These special and quarterly dividends will amount to a total payout of $2.1 billion to shareholders.
The current year marks the 12th consecutive year of regular dividend growth. The company noted that it is confident that strong markets for its products and accretive growth underway from investments in its asset base will continue to provide significant cash generation.
Shares of LyondellBasell have gained 4% in the past year against a 3.1% decline of the industry.
Image Source: Zacks Investment Research
The company, in its last earnings call, stated that it expects certain improvements in summer seasonal demand to extend market strength for its products as the global economy continues to navigate geopolitical uncertainty and volatile costs for energy and feedstocks.
Outside China, it projects benefits from sustained demand for consumer packaging, higher volumes for automotive polymer compounds, seasonal demand for durable goods utilized in building and construction markets and strong markets for its oxyfuels products. It anticipates a favorable outlook for its refining segment before exiting the business by the end of 2023.
In the second quarter, LyondellBasell's margins are projected to improve, led by prices for products catching up with increased feedstock and energy costs.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and Cabot Corporation (CBT - Free Report) .
Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 11.3% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.2% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 27.5% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 53.8% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 21.4% over a year.
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LyondellBasell Industries (LYB) Hikes Quarterly Dividend by 5%
LyondellBasell Industries N.V. (LYB - Free Report) announced a special dividend of $5.20 per share and a quarterly dividend of $1.19 per share. The quarterly dividend reflects a 5% hike from the company's previous quarterly dividend.
The special and quarterly dividends will both be paid on Jun 13, 2022, to stockholders of record as of Jun 6, 2022, with an ex-dividend date of Jun 3, 2022.
LyondellBasell established new records for cash generation in 2021. Capital returns have always been an essential component of LyondellBasell's value proposition for shareholders. These special and quarterly dividends will amount to a total payout of $2.1 billion to shareholders.
The current year marks the 12th consecutive year of regular dividend growth. The company noted that it is confident that strong markets for its products and accretive growth underway from investments in its asset base will continue to provide significant cash generation.
Shares of LyondellBasell have gained 4% in the past year against a 3.1% decline of the industry.
Image Source: Zacks Investment Research
The company, in its last earnings call, stated that it expects certain improvements in summer seasonal demand to extend market strength for its products as the global economy continues to navigate geopolitical uncertainty and volatile costs for energy and feedstocks.
Outside China, it projects benefits from sustained demand for consumer packaging, higher volumes for automotive polymer compounds, seasonal demand for durable goods utilized in building and construction markets and strong markets for its oxyfuels products. It anticipates a favorable outlook for its refining segment before exiting the business by the end of 2023.
In the second quarter, LyondellBasell's margins are projected to improve, led by prices for products catching up with increased feedstock and energy costs.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote
Zacks Rank & Key Picks
LyondellBasell currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and Cabot Corporation (CBT - Free Report) .
Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 11.3% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.2% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 27.5% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 53.8% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 21.4% over a year.