LyondellBasell Hikes Interim Dividend; To Repurchase Addl. 10% Of Shares

(RTTNews) - LyondellBasell Industries NV (LYB) said Wednesday that its supervisory board has authorized the company's management board to declare an interim dividend of $0.70 per share, representing an increase of 17% to the company's first quarter 2014 interim dividend.

The interim dividend will be paid May 12 to shareholders of record April 28, with an ex-dividend date of April 24.

The company also said that at its Annual General Meeting on April 16, shareholders approved a proposal to authorize the company to repurchase up to an additional 10% of the company's outstanding shares over the next 18 months.

LyondellBasell had about 530 million shares outstanding as of April 15, 2014.