Home / Knowledge / News / Textiles / LyondellBasell to initiate new share repurchase program
LyondellBasell to initiate new share repurchase program
16
Apr '14
LyondellBasell announced 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, 2014 to shareholders of record April 28, 2014, with an ex-dividend date of April 24, 2014.

The company also announced that at its Annual General Meeting on April 16, 2014, 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.  The repurchases will be executed from time to time through open market or privately negotiated transactions.

"The company has already repurchased approximately 46 million shares to date and expects to have repurchased the entire 10% of the original authority given by shareholders in 2013 by the end of May 2014.  This new share repurchase program and the increase in the regular interim dividend is reflective of our outlook, capital growth program, strong free cash flow profile and our commitment to returning cash directly to our shareholders via share repurchases and dividends," said Chief Executive Officer Jim Gallogly.

The amount and timing of future share repurchases and dividends will depend on, and be subject to, market conditions, general economic conditions, applicable legal requirements and other corporate considerations.  The share repurchase program and dividend policy may be suspended or discontinued at any time.  This share repurchase program does not obligate LyondellBasell to acquire any particular amount of shares. LyondellBasell had approximately 530 million shares outstanding as of April 15, 2014.

LyondellBasell

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search