12 Highest Dividend Stocks to Buy on Cash App

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

Dividend Yield as of January 21: 6.89%

LyondellBasell Industries N.V. (NYSE:LYB) is a multinational chemicals firm that specializes in plastics, chemicals, and refining. In the third quarter of 2024, the company surpassed its industry peers in safety performance, reporting a recordable incident rate of 0.13. This reflects strong safety practices. The company also saw significant growth in its Olefins and Polyolefins-Americas segment, which delivered a 13% sequential increase in EBITDA to $758 million. This marked its best quarter since Q2 2022 and a 50% year-over-year rise.

Despite the challenging global macroeconomic environment, LyondellBasell Industries N.V. (NYSE:LYB) leveraged its robust North American operations, benefiting from strong ethylene margins in the region. Demand for polyethylene and polypropylene in North America increased by more than 7% and 4%, respectively, compared to 2023. In the third quarter, the company’s volumes were supported by high operating rates at its crackers, allowing it to capitalize on improved margins from merchant ethylene sales. The company’s quarterly revenue reached $10.32 billion, a 2.8% decrease from the same period last year.

LyondellBasell Industries N.V. (NYSE:LYB) remains a favored option for dividend-seeking investors, supported by its robust cash reserves, which allow for significant dividend distributions. In the third quarter of 2024, the company returned $479 million to shareholders through dividends and share repurchases. It also generated $670 million in operating cash flow during the quarter. On November 22, 2024, the company announced a quarterly dividend of $1.34 per share, which was in line with its previous dividend. It is one of the best Cash App stocks to buy as the company has raised its payouts for 14 consecutive years. The stock supports a dividend yield of 6.89%, as of January 21.

At the end of Q3 2024, 38 hedge funds, compared with 41 in the previous quarter, owned stakes in LyondellBasell Industries N.V. (NYSE:LYB), as tracked by Insider Monkey’s database. These stakes have a consolidated value of over $546.2 million.