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


Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Simon Daplyn,

Simon Daplyn

Switzerland-based Sensient Imaging Technologies is a pioneer with a global ...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

Leave your Comments


November 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search