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LyondellBasell profit dips 6 percent; to pay special dividend

Friday, 26 Oct 2012 | 11:28 AM ET

Oct 26 (Reuters) - Chemical producer LyondellBasell Industries NV posted a 6 percent drop in quarterly profit on Friday due in part to higher costs in European operations.

For the third quarter, the company reported net income fell to $846 million, or $1.46 per share, from $895 million, or $1.33 per share, in the year-ago period.

Revenue declined 10 percent to $11.27 billion.

The company, which is technically based in the Netherlands but run out of Houston, will pay a special, one-time dividend of $2.75. The payout will be in addition to the company's current quarterly dividend of 40 cents.

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