Valero Energy (NYSE: $VLO) Increases Regular Cash Dividend by 17 Percent
SAN ANTONIO - Jaunary 27, 2017 (Investorideas.com Newswire) The Board of Directors of Valero Energy Corporation (NYSE:VLO) (“Valero”) has approved an increase in the company's regular quarterly cash dividend on common stock from $0.60 per share to $0.70 per share, effective with the quarterly dividend the Board has declared to be payable on March 7, 2017 to holders of record at the close of business on February 15, 2017. The increase in the dividend raises the annualized cash dividend rate on Valero's common stock to $2.80 per share.
As a reminder, Valero will host a conference call on January 31, 2017 at 10 a.m. ET to discuss fourth quarter and full year 2016 earnings results, which will be released earlier that day, and to provide an update on company operations and strategy. Persons interested in listening to the presentation live via the Internet may log on to Valero's website at www.valero.com.
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Valero subsidiaries employ approximately 10,000 people, and its assets include 15 petroleum refineries with a combined throughput capacity of approximately 3 million barrels per day, 11 ethanol plants with a combined production capacity of 1.4 billion gallons per year, a 50-megawatt wind farm, and renewable diesel production from a joint venture. Through subsidiaries, Valero owns the general partner of Valero Energy Partners LP (NYSE:VLP), a midstream master limited partnership. Approximately 7,500 outlets carry the Valero, Diamond Shamrock, Shamrock, and Beacon brands in the United States; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. Valero is a Fortune 500 company based in San Antonio. Please visit www.valero.com for more information.
John Locke, Vice President - Investor Relations, 210-345-3077
Karen Ngo, Senior Manager - Investor Relations, 210-345-4574
Lillian Riojas, Director - Media Relations and Communications, 210-345-5002
Statements contained in this release that state the company's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “believe,” “expect,” “should,” “estimates,” “intend,” and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero's annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC and on Valero's website at www.valero.com, and VLP's annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC and on VLP's website at www.valeroenergypartners.com.
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