A major petrochemical corporation announced Friday it will dramatically reduce payments to shareholders, blaming an extended slump in the chemicals sector.
LyondellBasell revealed its first-quarter dividend will drop to 69 cents per share, marking a steep 68-cent decrease from what shareholders received in the previous quarter.
Company CEO Peter Vanacker acknowledged the challenging business environment while defending the company’s recent performance.
“Despite one of the longest downturns in our industry, LYB was able to return approximately $2 billion to our shareholders from existing cash and operations in 2025,” Vanacker stated.
The chief executive explained the reasoning behind the dividend adjustment, pointing to continued market difficulties ahead.
“With markets expected to remain challenged, we have made the decision to recalibrate the dividend to better position the company to thrive once markets recover,” he said.
