10 Best Stocks to Buy for Retirement

4. LyondellBasell Industries N.V. (NYSE:LYB)

Dividend Yield as of February 9: 4.83%
3-Year Average Annual Dividend Growth Rate: 33.6%
Dividend Payout Ratio: 35.8%

LyondellBasell Industries N.V. (NYSE:LYB) is a Netherland-based multinational chemical industry company that specializes in the production of polyethylene. The company pays a quarterly dividend of $1.19 per share and has a dividend yield of 4.83%, as of February 9. It has been raising its dividends consistently for the past 12 years and in the past three years, its dividend has grown at an annual average rate of 33.6%.

In February, Wells Fargo raised its price target on LyondellBasell Industries N.V. (NYSE:LYB) to $109 with an Overweight rating on the shares. The firm believes that the company’s operating rates would improve along with its margins.

At the end of September, 38 hedge funds tracked by Insider Monkey reported owning stakes in LyondellBasell Industries N.V. (NYSE:LYB), compared with 37 in the previous quarter. The collective value of these stakes is over $825.7 million.

Miller Howard Investments shared its outlook on LyondellBasell Industries N.V. (NYSE:LYB) in its Q3 2021 investor letter. Here’s what the firm said:

“We initiated a position in LyondellBasell (LYB). Chemical markets are currently robust given the combination of 2020 plant shutdowns and strongly recovering demand. Despite the tailwinds, Lyondell trades at a low valuation and yields just under 5%.”