LyondellBasell to pay interim dividend of $0.50 per share

The supervisory board of global speciality chemicals and petrochemicals major LyondellBasell has authorised its management board to approve an interim dividend of $0.50 per share - the same rate it paid last quarter - after raising the payout to investors by 25 per cent from $0.40 per share.

The interim dividend will be paid on 7 October 2013, to those shareholders on the record of the company's register on 23 September 2013, subject to the adoption of a resolution by the management board, which is expected to on 23 September.

Additionally, in August, the company received a determination from tax authorities in the Netherlands and United Kingdom that LyondellBasell is solely a UK tax resident effective 1 July 2013.  As a result, the company will no longer withhold any non-US tax on its dividend payments to shareholders.

The regular dividend payment equates to a $2.00-per-share annual dividend, yielding 2.8 per cent based on the closing price today of LyondellBasell's stock.

LyondellBasell, one of the world's largest plastics, chemical and refining companies and a member of the S&P 500 Index, manufactures products at 58 sites in 18 countries.

LyondellBasell Industries NV's shares slumped on Wednesday, after Apollo Global Management LLC's offer of $1.1 billion in stock in the chemical company.

LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.