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$0.3650 cents per unit distribution declared payable on August 29, 2017
HOUSTON--(BUSINESS WIRE)--Aug. 1, 2017--
The Board of Directors of Westlake Chemical Partners GP LLC, the general
partner of Westlake Chemical Partners LP (the "Partnership")
(NYSE:WLKP) declared today a distribution of $0.3650 per unit,
representing a 2.85% increase from the first quarter 2017 distribution.
This is the twelfth quarterly distribution announced by the Partnership
since its successful Initial Public Offering (IPO) closing on August 4,
2014. The distribution will be payable on August 29, 2017, to unit
holders of record on August 15, 2017.
The Board of Directors also approved the renewal and extension to April
29, 2021 of the Company’s $300 Million revolving credit agreement with a
subsidiary of Westlake Chemical Corporation.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat one
hundred percent (100.0%) of the Partnership’s distributions to non-U.S.
investors as being attributable to income that is effectively connected
with a United States trade or business. Accordingly, the Partnership’s
distributions to non-U.S. investors are subject to federal income tax
withholding at the highest applicable effective tax rate.
About Westlake Chemical Partners LP
Westlake Chemical Partners is a limited partnership formed by Westlake
Chemical Corporation to operate, acquire and develop ethylene production
facilities and other qualified assets. Headquartered in Houston, Texas,
the Partnership owns a 13.3% interest in Westlake Chemical OpCo LP.
Westlake Chemical OpCo LP’s assets include three facilities in Calvert
City, Kentucky, and Lake Charles, Louisiana which process ethane and
propane into ethylene, and an ethylene pipeline. For more information
about Westlake Chemical Partners LP, please visit http://www.wlkpartners.com/.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170801005127/en/
Source: Westlake Chemical Partners LP
Westlake Chemical Partners LP
Media Relations:
Ben
Ederington, 713.585.2900
or
Investor Relations:
Steve
Bender, 713.585.2900
