Today’s step: $0.90 dividend from LYB

I took another step forward in my march toward $1,000,000 today, nabbing a $0.90 dividend payment from LyondellBasell Industries.

It was my 25th dividend of the month, which is awesome considering we’re only 12 days in. The steps are small, but at least they’re steady. The dividends have added up to $22.24 so far this month and $339.79 for the year – a number I’m pretty damn proud of.

I’m not going to hit $400 this year, but that was never a goal of mine. When the year started I simply wanted to build a portfolio that paid consistent dividends. With more than 40 payments coming my way each and every month, I think I’ve achieved that. I don’t care how small the payments are right now … I just care that I’m getting them. They’ll grow with time.

Here’s a closer look at the company that paid today’s dividend …

LyondellBasell Industries

I bought my share of LYB – a London-based company that engages in the refinery and production of chemicals and plastics – back in April for $84.55. Since then, that share has earned me three $0.90 quarterly dividends ($2.70 total) and appreciated in value by $22.95 (27.14%).

I’ll take it.

Despite the solid work it’s already done over the course of the last eight months or so, the company, trading for better than $20/share more than when I opened my position, still looks to be a pretty good buy. It’s at the top of its 52-week range, but the P/E ratio is just 11.54. On top of that, earnings are good (9.32 EPS), and it grew those earnings by 15.58% last quarter verses the same quarter from 2016.

The dividend is really nice as well. The $3.60 annualized payment equates to a 3.36% yield at today’s prices and, despite that decent yield, the payout ratio is just 38.38%. Better still, LYB has boosted its dividend each of the last three years at an average rate of about 10%.

In case you missed it, here’s a link to yesterday’s post. Other than that, I think that’s all I have for now.

March on!

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