SAN ANTONIO, July 29, 2014 /PRNewswire/ -- 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 $0.25
per share to $0.275, effective with
the quarterly dividend the Board has declared to be payable on
September 17, 2014 to holders of
record at the close of business on August
20, 2014. The increase in the dividend raises the annualized
cash dividend rate on Valero's common stock to $1.10 per share.
"This is Valero's second increase in the regular cash dividend
during 2014, and is a 37.5% increase since the start of 2013," said
Joe Gorder, Valero CEO and
President. "This increase reflects our belief in the earnings power
of our business and our continued commitment to return cash to
stockholders."
About Valero
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 assets
include 15 petroleum refineries with a combined throughput capacity
of approximately 2.9 million barrels per day, 11 ethanol plants
with a combined production capacity of 1.3 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 7,400 outlets carry
the Valero, Diamond Shamrock, Shamrock and Beacon brands in
the United States and the
Caribbean; 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 Contacts
Investors:
John Locke, Executive Director –
Investor Relations, 210-345-3077
Karen Ngo, Manager – Investor
Relations, 210-345-4574
Media:
Bill Day, Vice President –
Communications, 210-345-2928
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Safe-Harbor Statement
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 Securities and Exchange Commission and on Valero's website at
www.valero.com.
SOURCE Valero Energy Corporation