ROTTERDAM, Netherlands, Nov. 14, 2011 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today 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.

Additionally, the Supervisory Board has authorized the company's Management Board to declare a quarterly dividend of $0.25 per share, an increase of $0.05 per share from the company's August 2011 dividend. The quarterly dividend also will 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.

LyondellBasell (NYSE: LYB) is one of the world's largest plastics, chemical and refining companies. The company manufactures products at 58 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. More information about LyondellBasell can be found at www.lyondellbasell.com.

SOURCE LyondellBasell Industries