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Westlake Chemical raises quarterly dividend

Westlake Chemical Corp. announced a dividend of 26.25 cents per share in the third quarter, up from 25 cents per share in the prior quarter.

The dividend will be paid Sept. 11 to shareholders of record as of Aug. 27.

The Houston-based chemicals manufacturer reported net income of $119 million, or 92 cents per share, in the second quarter, down from the prior-year period's $278 million, or $2.12 per share.

Net sales for the second quarter also came in lower at $2.14 billion, compared with the prior-year quarter's $2.24 billion.