We recently released 10 stocks losing their firepower. LyondellBasell Industries (NYSE: LYB ) was one of the worst performers on Thursday.
LyondellBasell dropped for a fourth straight day on Thursday, down 6.24% to close at $43.16 per share, as investors dumped portfolios following an ex-dividend date and a record date to receive its next quarterly dividend.
During the session, the stock fell as much as 6.7%.
LyondellBasell Industries NV (NYSE: LYB ) shareholders will be eligible to receive a dividend of $1.37 per share for the period ending December 1, on Monday, December 8th.
Pixabay/Public Domain
The dividend was paid based on earnings results in the third quarter of this year. During the period, LyondellBasell Industries (NYSE: LYB ) swung to a net loss of $890 million from a net profit of $573 million in the year-ago period, dragged down primarily by $1.2 billion of identified items such as non-cash asset writedowns, transaction costs, cash improvement initiatives and discontinued operations.
Sales and other operating income also fell 10% to $7.727 billion from $8.604 billion in the same period last year.
“LYB continues to navigate challenging market conditions while remaining focused on delivering long-term value,” said Peter Vanacker, CEO of LyondellBasell Industries NV (NYSE: LYB).
He added: “By reducing fixed costs, managing working capital and optimizing capital investments to strengthen free cash flow, our cash improvement plan is on track to achieve our target of $600 million in 2025 and at least $1.1 billion by the end of 2026.”
While we acknowledge LYB’s potential as an investment, we strongly believe that some AI stocks are poised to deliver higher returns with limited downside risk. If you’re looking for dirt-cheap AI stocks that are also major beneficiaries of Trump’s tariffs and outsourcing, check out our free report on AI Best Short-Term Artificial Intelligence Stocks.
Read next: 30 stocks that will double in 3 years and 11 Hidden Artificial Intelligence Stocks to Buy Right Now.
Disclosure: None. This article was originally published on Insider Monkey.
