06-08-2021, 12:51 PM
(06-07-2021, 06:38 AM)ken-do-nim Wrote: Late on this one, but ...
"LyondellBasell Industries N.V. LYB recently announced that its Board has declared a quarterly dividend of $1.13 per share, reflecting a 7.6% increase over the company's first-quarter 2021 dividend.
The dividend will be paid out on Jun 14, 2021 to shareholders of record as of Jun 7, 2021, with an ex-dividend date of Jun 4, 2021. This dividend increase positions LyondellBasell to post its 11th straight year of annual dividend growth in 2021."
Sold out of my LYB a couple months ago. Have learned to sell these cyclical basic materials companies when they fly high. When the crashes happen, they can lose 50%+ of their value in a matter of days, and dividends get eliminated quickly. There are only a handful of aristocrats in the materials sector (like NUE and SON). Margins are tiny, and even the smallest flap of a butterfly's wings halfway around the world can tank their business quickly. Prior to raising its dividend 11 years in a row, Lyondell filed for bankruptcy.