5 UK Stocks with the Highest Dividends

2. LyondellBasell Industries (NYSE:LYB)

Dividend Yield: 6.86%

Number of Hedge Fund Holders: 59

LyondellBasell Industries (NYSE:LYB) is one of the UK’s highest-dividend stocks. The company pays a quarterly dividend of $0.69 per share, translating to a dividend yield of about 6.86%. On May 22, LyondellBasell Industries (NYSE:LYB) declared a $0.69-per-share dividend, paid on June 8.

On May 28, Wells Fargo upgraded the stock to Overweight from Equal Weight and raised the price target to $98 from $80. The stock is currently trading at $58.25. The upgrade and price target hike are in response to expectations that the company is well-positioned to benefit from higher polyethylene prices. The prices have increased by $0.30 a pound since the US-Iran war started.

Wells Fargo expects the higher Polyethylene prices to trigger another round of upward earnings revisions as the company continues to capitalize on exports. Over the past few years, LyondellBasell has exported 30% to 40% of its US Gulf Coast supply. The research firm expects the company to maximize exports and capitalize on higher export margins.

LyondellBasell Industries (NYSE:LYB) is a major multinational chemical and refining company. It specializes in producing polymers (plastics), petrochemicals, and refined fuels. Its materials serve as the essential raw building blocks for a vast array of everyday consumer and industrial goods, including food packaging, automotive components, and medical devices.