Westlake splits common stock & hikes cash dividend

19 Feb '14

2 min read

The Board of Directors of Westlake Chemical Corporation declared a two-for-one split of the company's common stock and increased the quarterly cash dividend on the company's common stock by 12 percent to $0.252 per share on a pre-split basis.

"These actions reflect the financial strength of the company," said Albert Chao, President and CEO. "The cash dividend increase, the second in less than a year, and the stock split demonstrates the Board's continued confidence in our ability to deliver strong earnings."

The two-for-one common stock split will be accomplished by means of a stock dividend, to be distributed March 18, 2014 to stockholders of record as of February 28, 2014. Stockholders will be issued one additional share of common stock for each share held. Westlake Chemical expects that its common stock will begin trading on a split-adjusted basis on March 19, 2014.

The cash dividend is payable on March 18, 2014 to stockholders of record as of February 28, 2014, and will be paid on the pre-split shares.

Westlake Chemical Corporation (WLK)

Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC resin and PVC building products including pipe and specialty components, windows and fence.

Westlake Chemical

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