LyondellBasell profit dips 6 percent; to pay special dividend

Fri Oct 26, 2012 7:30am EDT

(Reuters) - Chemical producer LyondellBasell Industries NV (LYB.N) 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.

(Reporting by Ernest Scheyder; Editing by Jeffrey Benkoe)