LyondellBasell Industries N.V. (NYSE:LYB) Declares Quarterly Dividend of $1.37

Key Points

• LyondellBasell Industries N.V. declared a quarterly dividend of $1.37 per share, expected to be paid on September 2nd to stockholders of record as of August 25th, reflecting an annualized yield of 10.3%.
• The company has a current payout ratio of 89.8%, which indicates that while the dividend is currently covered by earnings, future earnings declines could jeopardize this coverage.
• LyondellBasell's stock has experienced a 7.8% decline recently, and analysts have mixed ratings on the stock, with an average target price of $66.00.

LyondellBasell Industries N.V. (NYSE:LYB - Get Free Report) announced a quarterly dividend on Monday, August 4th, RTT News reports. Stockholders of record on Monday, August 25th will be paid a dividend of 1.37 per share by the specialty chemicals company on Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%.

LyondellBasell Industries has a payout ratio of 89.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities analysts expect LyondellBasell Industries to earn $7.96 per share next year, which means the company should continue to be able to cover its $5.48 annual dividend with an expected future payout ratio of 68.8%.

LyondellBasell Industries Stock Down 7.8%

Shares of NYSE LYB opened at $53.41 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. LyondellBasell Industries has a 12 month low of $51.11 and a 12 month high of $99.36. The firm has a market capitalization of $17.17 billion, a PE ratio of 69.36, a price-to-earnings-growth ratio of 3.13 and a beta of 0.85. The firm has a fifty day simple moving average of $60.13 and a two-hundred day simple moving average of $65.20.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the company posted $2.24 earnings per share. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank Of America (Bofa) cut their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Mizuho increased their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Citigroup cut their price objective on shares of LyondellBasell Industries from $58.00 to $56.00 in a research report on Wednesday, June 11th. Wells Fargo & Company increased their price objective on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Piper Sandler lowered their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of "Hold" and an average target price of $66.00.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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