LyondellBasell (LYB +4.2%) hikes its quarterly dividend 60% to $0.40/share, signaling its...

|About: LyondellBasell Industries N.V. (LYB)|By:, SA News Editor

LyondellBasell (LYB +4.2%) hikes its quarterly dividend 60% to $0.40/share, signaling its operational strength and progress in debt restructuring. CEO Jim Gallogly says the plastics and chemical company expects to steadily increase dividends over time. Morgan Stanley raises its price target on LYB to $53 from $48, citing the likelihood of higher ethane prices.