Westlake Chemical declares special dividend of $3.75 per share The board of Westlake Chemical declared on Friday a special dividend of $3.75 per share. The special dividend and the regular quarterly dividend will be payable on December 12, to stockholders of record on November 26. The regular quarterly dividend and the special dividend will entail the payment of approximately $12.5M and $250M, respectively. The funds will be provided from cash on hand.
U.S. Chemicals sector initiated with an Overweight at RBC Capital RBC Capital started the U.S. Chemicals sector with an Overweight rating citing the growth of shale gas. The firm lists ethylene stocks LyondellBasell (LYB), Westlake Chemical (WLK) and Dow Chemical (DOW) its top picks in the space. RBC views coatings stocks as good ways to play the pending recovery in construction, and has Outperform ratings on Sherwin-Williams (SHW) and PPG Industries (PPG). RBC put its only Underperform rating in the sector on Axiall (AXLL), citing the company's short ethylene position and leverage to single-family housing.