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Home > Fortune 500 Companies > Lyondell Chemical
Lyondell Chemical
Lyondell Chemical is a publicly traded company having a good stock performances result. They are a global leader in the manufacture of chemicals and polymers, building blocks for countless products that people around the world use every day. From their cars to their homes, from the grocery store to the office, the products are important to the goods that people throughout the world depend upon to enhance their quality of life.
They manufacture basic chemicals and derivatives including propylene, ethylene, titanium dioxide, styrene, polyethylene, propylene oxide and acetyls. They are also a significant producer of gasoline blending components. In addition they hold 58.75 percent interest in Lyondell-Citgo Refining, a refiner of heavy and high-sulfur crude oil.
They are dedicated to good corporate governance and to effectively communicating with its shareholders. The Board of Directors represents the interests of the company’s shareholders in perpetuating a successful business, provides guidance to management and actively monitors the success of management’s policies, decisions and strategies. They achieved a record full-year net income of 531 million dollars, 477 million dollars improvement compared with 2004 net income.
The Company’s common stock is listed on the New York stock exchange. As of December 31, 2005, the record of shareholders was 7.347. On March 1, 2006, the closing sale price of the common stock on the New York Stock Exchange was 21.00 dollars per share, and there were roughly 7,278 holders of record of the common stock.
During the last two years, they affirmed 0.225 dollars per share quarterly cash dividends. During 2004 and 2005, they paid 127 million dollars and 222 million dollars, respectively in cash dividends on its common stock. During the periods when shares of Series B common stock were outstanding, they paid regular quarterly dividends on those shares by issuing additional shares of Series B common stock in lieu of cash, as permitted by its Certificate of Incorporation. The future declaration and payout of dividends and the amount thereof will be dependent upon their results of financial position, operations, cash position and requirements.
Lyondell currently aims to distribute dividends to its shareholders at a quarterly rate of 0.225 dollars per share. All of the 2005 dividends paid by them are treated as taxable dividends to shareholders for United States federal income tax purposes.
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