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(LyondellBasell) --
LyondellBasell announced that its Supervisory Board has authorized the
company's Management Board to declare a special dividend of $4.50 per share to
be paid on Dec. 16, 2011 to shareholders of record as of Nov. 25, 2011, subject
to the adoption of a resolution by the Management Board, which is expected to
occur on Nov. 25, 2011. The special dividend of approximately $2.6 billion will
return value to shareholders and will be financed using a combination of
existing cash and proceeds from a recent debt financing.
Perspectives
of development of polymer markets, pricing issues and other important aspects
will be discussed at The Polymers Summit-2011, which will be held in Moscow
on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by
MRC with the support of ICIS. The main idea of the Summit is to find a "the
golden mean" between producers and converters. When producers receive exactly
such margin of production, which helps them to invest in production expansion in
order to substitute polymers imports, and the converters receive such price of
feedstock that helps them to compete imported finished products. The Summit site
gives an access to the live video of the Summit, speakers" presentations, as
well as opportunities to ask questions or make appointments to any Summit
partcipant.
mrcplast.com
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