MOSCOW (MRC) -- The board of directors of Westlake Chemical Corporation has declared a dividend of 16.5 cents per share, an increase of 31% from the 12.6 cents per share paid in the second quarter of 2014, reported the company on its site.
The increased dividend will be payable on September 19, 2014, to stockholders of record on September 5, 2014.
This is the 40th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004.
As MRC reported earlier, in early August 2014, Westlake Chemical Corporation announced it had closed the previously announced acquisition of German-based Vinnolit Holdings GmbH and its subsidiary companies from Advent International, a private equity firm. The Vinnolit acquisition includes six production facilities located in Burghausen, Gendorf, Cologne, Knapsack and Schkopau in Germany and Hillhouse in the United Kingdom. These operations have a combined annual capacity of 780,000 metric tons of PVC, including specialty paste, thermoplastic specialties and suspension grades, 665,000 metric tons of vinyl chloride monomer (VCM) and 475,000 metric tons of membrane grade caustic soda.
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC resin and PVC building products including pipe and specialty components, windows and fence.
MRC