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Westlake Chemical is more than doubling its quarterly dividend to 18.75 cents, from 7.375 cents.

The chemical company said Monday the dividend will be paid on Sept. 12 to shareholders of record on Aug. 30.

Earlier this month, Westlake Chemical reported that its second-quarter net income jumped 42 percent, boosted by a tax benefit.

Shares of Westlake Chemical Corp., which is based in Houston, fell 29 cents to $68.33 in morning trading.

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