HOUSTON and LONDON, May 19, 2023 /PRNewswire/ -- LyondellBasell today announced its Board of Directors has declared a quarterly dividend of $1.25 per share, representing a 5 percent increase over the company's first quarter 2023 dividend. The dividend will be paid June 6, 2023 to shareholders of record May 30, 2023, with an ex-dividend date of May 26, 2023.

"2023 marks our 13th consecutive year of annual dividend growth. Our increasing dividend demonstrates our ongoing commitment to deliver strong returns for LyondellBasell shareholders. It is also aligned with our long-term target of returning 70 percent of free cash flow to shareholders that we shared at our Capital Markets Day," said Peter Vanacker, CEO of LyondellBasell. "We will continue our balanced approach to capital deployment as we establish our leadership in creating solutions for everyday sustainable living."

About LyondellBasell

We are LyondellBasell (NYSE:LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

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SOURCE LyondellBasell Industries