Westlake Chemical Announces $100M Share Repurchase Program; Declares a 16% Increase in Quarterly Dividends

The board of directors of Westlake Chemical Corporation (NYSE: WLK) on Friday authorized the company to repurchase up to $100 million in shares of its common stock.

The board also declared on Friday a dividend of 7.375 cents per share, payable on September 13, 2011, to stockholders of record on September 2, 2011. This represents an increase of 1.025 cents per share, or 16%, over the 6.35 cents per share that the company has previously paid.