LyondellBasell Authorizes $2.75/Share Special Dividend
LyondellBasell (NYSE: LYB) today announced that its Supervisory Board has authorized the company's Management Board to declare a special dividend of $2.75 per share to be paid Dec. 11, 2012 to shareholders of record Nov. 19, 2012, subject to the adoption of a resolution by the Management Board, which is expected to occur Nov. 19, 2012. The special dividend of approximately $1.6 billion will return value to shareholders and will be paid with existing cash on hand.
The special dividend is separate from and in addition to the company's interim dividend of $0.40 per share, which is anticipated to be authorized by the Supervisory Board and approved by the Management Board for payment to shareholders of record at the same time as the special dividend.
Important Notice for U.S. Taxpayers: Dividends paid on ordinary shares generally are taxable to shareholders as dividend income to the extent those distributions are paid out of our current or accumulated earnings and profits. Dividends on our ordinary shares not paid out of our current or accumulated earnings and profits will be treated as a return of capital to the extent of your basis in our ordinary