LyondellBasell Industries cut its quarterly dividend by roughly 50% to $0.69 per share, ending a 15-year streak of consecutive increases. The company reported $2.1 billion in adjusted EBITDA and $4.30 in adjusted EPS in Q2 2026, up sharply from $615 million and $0.49 in the first quarter. J.P. Morgan upgraded LYB from Neutral to Overweight and raised its price target from $75 to $80, citing improved cash generation and balance sheet. The firm estimates a free cash flow yield of roughly 12% to 14% and expects net debt to EBITDA to decline significantly in 2026. LYB remains committed to returning 70% of free cash flow to shareholders through the cycle, and its Cash Improvement Plan is expected to add $500 million in annual cash flow by the end of 2026.
LyondellBasell Industries NVDividend cut and J.P. Morgan upgrade highlight improved cash generation and balance sheet, with strong Q2 earnings and free cash flow yield.
