Westlake Chemical’s (NYSE:WLK) Board Awards Special Dividend of $3.75 Per Share – WLK, CAT, GGC, SD, WFT, AKS, NXY

Westlake Chemical Corporation (NYSE:WLK) reported on Monday that the Houston, Texas company will pay a special dividend of $3.75 per share, as well as a regular quarterly dividend of 18.75 cents per share.

Westlake Chemical, a manufacturer and supplier of petrochemicals, polymers and building products, reported that both dividends will be payable on Dec 12 to shareholders of booked as of Nov 26.

The company reported that the regular quarterly dividend and the special dividend will require the amount of almost $12.5 million and $250 million, in that order. Funds for dividend will be provided from cash on hand.

Westlake Chemical marked the 33rd successive quarterly dividend by offering this dividend since completing its IPO in August 2004.

Its competitors include Caterpillar Inc. (NYSE:CAT) that surged +1.81% to $83.38 with the total traded volume of 2.43 million shares and Georgia Gulf Corporation (NYSE:GGC) that increased 2.92% to $42.61 with the total traded volume of 292,924.00 shares.

Other Basic Materials stocks with bullish trend include SandRidge Energy Inc. (NYSE:SD) up +3.93% to $5.55, Weatherford International Ltd (NYSE:WFT) up 3.38% to $9.47 and AK Steel Holding Corporation (NYSE:AKS) up 2.24% to $3.65, whereas with bearish trend include Nexen Inc. (USA) (NYSE:NXY) down -0.39% to $25.49,

Westlake Chemical Corporation (NYSE:WLK) increased +2.53% or +$1.79 to trading at $74.26 following it hit intraday high level of $75.04. The total traded volume in the current trading session is 244,464.00 shares as compared to average 567,691.00 shares. Its fifty two week trading range is $37.68 – $80.49. The total market capitalization reached $4.97 billion.

The stock price was ahead its 52 week low price with +98.16% and it lagged behind -7.73% from its 52 week maximum mark. Stock price volatility for last month remained 3.49%. In its share capital, the company has 66.70 million outstanding shares out of which 20.49 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.37%.

WLK presented a pessimistic weekly performance of -6.07% with respect to its rate of return and it remained -6.88% for the month. However, the performance for a quarter experienced a positive change of 6.30% and it surged +67.35% for a year and its year to date performance remained in green with +80.94%.

Current stock price is in the downbeat territory taking into account of 20 days moving average with -2.64% and continued negatively run for 50 days moving average with -0.62%. Its earning per share for the past twelve months was $4.73. Company’s beta coefficient was at 1.85. Beta measures the amount of market risk associated with market trade.

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