LyondellBasell stock rallies after special dividend announced, regular dividend raised

Shares of LyondellBasell Industries N.V. LYB, +2.28% roseate 1.1% successful premarket trading Friday, aft the U.K.-based chemic institution said it volition wage a peculiar dividend of $5.20 a share, aft mounting caller records for currency procreation successful 2021. With 327.6 cardinal shares outstanding, the peculiar dividend represents a payout of $1.70 billion. The institution besides raised its quarterly dividend by 5.3% to $1.19 a stock from $1.13 a share. Based connected Thursday's banal closing terms of $111.50, the caller yearly regular dividend complaint implies a dividend output of 4.27%, compared with the implied dividend output for the S&P 500 SPX, +1.99% of 1.58%. Both the peculiar and regular quarterly dividend volition beryllium paid connected June 13 to shareholders of grounds connected June 6. The banal has rallied 20.9% twelvemonth to day done Thursday, portion the S&P 500 SPX, +1.99% has dropped 14.9%.