{"id":777469,"date":"2023-08-14T06:33:47","date_gmt":"2023-08-14T10:33:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/westlake-announces-40-increase-in-quarterly-dividend\/"},"modified":"2023-08-14T06:33:47","modified_gmt":"2023-08-14T10:33:47","slug":"westlake-announces-40-increase-in-quarterly-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/westlake-announces-40-increase-in-quarterly-dividend\/","title":{"rendered":"Westlake Announces 40% Increase in Quarterly Dividend"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Westlake Announces 40% Increase in Quarterly Dividend<\/b><\/p>\n<p>HOUSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe Board of Directors of Westlake Corporation (NYSE: WLK) today declared a regular dividend distribution of 50.00 cents per share for the second quarter of 2023, an increase of approximately 40% from the 35.70 cents per share of the first quarter of 2023. This dividend will be payable on September 12, 2023, to stockholders of record on August 25, 2023.<\/p>\n<p>\n\u201cThe significant increase in our dividend reflects the strong cash generative business model as we have continued our growth at Westlake,\u201d said Albert Chao, president and chief executive officer of Westlake. \u201cOur Investments in differentiated and specialty products in our Performance and Essential Material (PEM) segment and leading market positions in downstream building products in our Housing and Infrastructure Products (HIP) segment has enhanced the stability of our earnings profile, while our globally advantaged low-cost position provides strong cash generation throughout the business cycle. Alongside our conservatively positioned, strong investment grade balance sheet this supports a meaningfully higher dividend level while continuing to provide us significant capacity to invest in our business to drive long-term shareholder return.\u201d<\/p>\n<p>\nThis is the 76th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004.<\/p>\n<p><i>The statements in this release that are not historical facts, including statements regarding future repurchases of common stock, are forward-looking statements. These forward-looking statements are subject to significant risks and uncertainties. Actual results could differ materially, based on factors including, but not limited to, the ultimate timing, outcome and results of integrating the operations of recent acquisitions; general economic and business conditions; the cyclical nature of the chemical and building products industries; availability, cost and volatility of raw materials and utilities; uncertainties associated with the United States, European and worldwide economies, including those due to political tensions and unrest; uncertainties associated with pandemic infectious diseases; and other risk factors. For more detailed information about the factors that could cause actual results to differ materially, please refer to Westlake\u2019s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC in February 2023, and Westlake\u2019s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023, which were filed with the SEC in May and August 2023, respectively.<\/i><\/p>\n<p><b>About Westlake<\/b><\/p>\n<p>\nWestlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North America, we provide the building blocks for vital solutions \u2014 from housing and construction, to packaging and healthcare, to automotive and consumer. For more information, visit the Company&#8217;s web site at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.westlake.com&amp;esheet=53527134&amp;newsitemid=20230814939152&amp;lan=en-US&amp;anchor=www.westlake.com&amp;index=1&amp;md5=a3aa875d31c14a75fe3c11957f6c86b3\">www.westlake.com<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230814939152r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230814939152\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230814939152\/en\/<\/a><\/span><\/p>\n<p><span class=\"bwuline\">Media Inquiries:<br \/>\n<\/span><br \/>Westlake Corp.<br \/>\n<br \/>Ben Ederington, 713-960-9111<\/p>\n<p>or<\/p>\n<p><span class=\"bwuline\">Investor Inquiries:<br \/>\n<\/span><br \/>Westlake Corp.<br \/>\n<br \/>Steve Bender, 713-960-9111<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Chemicals\/Plastics Other Construction &amp; Property Manufacturing Construction &amp; Property Other Manufacturing Textiles<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230814939152\/en\/1696345\/3\/Westlake_Corp_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Westlake Announces 40% Increase in Quarterly Dividend HOUSTON&#8211;(BUSINESS WIRE)&#8211; The Board of Directors of Westlake Corporation (NYSE: WLK) today declared a regular dividend distribution of 50.00 cents per share for the second quarter of 2023, an increase of approximately 40% from the 35.70 cents per share of the first quarter of 2023. This dividend will be payable on September 12, 2023, to stockholders of record on August 25, 2023. \u201cThe significant increase in our dividend reflects the strong cash generative business model as we have continued our growth at Westlake,\u201d said Albert Chao, president and chief executive officer of Westlake. \u201cOur Investments in differentiated and specialty products in our Performance and Essential Material (PEM) segment and leading market positions in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/westlake-announces-40-increase-in-quarterly-dividend\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Westlake Announces 40% Increase in Quarterly Dividend&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-777469","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Westlake Announces 40% Increase in Quarterly Dividend - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/westlake-announces-40-increase-in-quarterly-dividend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westlake Announces 40% Increase in Quarterly Dividend - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Westlake Announces 40% Increase in Quarterly Dividend HOUSTON&#8211;(BUSINESS WIRE)&#8211; The Board of Directors of Westlake Corporation (NYSE: WLK) today declared a regular dividend distribution of 50.00 cents per share for the second quarter of 2023, an increase of approximately 40% from the 35.70 cents per share of the first quarter of 2023. This dividend will be payable on September 12, 2023, to stockholders of record on August 25, 2023. \u201cThe significant increase in our dividend reflects the strong cash generative business model as we have continued our growth at Westlake,\u201d said Albert Chao, president and chief executive officer of Westlake. \u201cOur Investments in differentiated and specialty products in our Performance and Essential Material (PEM) segment and leading market positions in &hellip; Continue reading &quot;Westlake Announces 40% Increase in Quarterly Dividend&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/westlake-announces-40-increase-in-quarterly-dividend\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-14T10:33:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230814939152r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/westlake-announces-40-increase-in-quarterly-dividend\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/westlake-announces-40-increase-in-quarterly-dividend\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Westlake Announces 40% Increase in Quarterly Dividend\",\"datePublished\":\"2023-08-14T10:33:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/westlake-announces-40-increase-in-quarterly-dividend\\\/\"},\"wordCount\":491,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/westlake-announces-40-increase-in-quarterly-dividend\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230814939152r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/westlake-announces-40-increase-in-quarterly-dividend\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/westlake-announces-40-increase-in-quarterly-dividend\\\/\",\"name\":\"Westlake Announces 40% Increase in Quarterly Dividend - 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