Valero Energy Corporation Increases Regular Cash Dividend by 17 Percent
January 26 2017 - 4:25PM
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.
About ValeroValero 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.
Valero ContactsInvestors:John
Locke, Vice President – Investor Relations, 210-345-3077Karen Ngo,
Senior Manager – Investor Relations, 210-345-4574
Media:Lillian Riojas, Director – Media Relations
and Communications, 210-345-5002
Safe-Harbor StatementStatements
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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