SAN ANTONIO, Jan. 23, 2015 /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 $0.275
per share to $0.40 per share,
effective with the quarterly dividend the Board has declared to be
payable on March 3, 2015 to holders
of record at the close of business on February 11, 2015. The increase in the dividend
raises the annualized cash dividend rate on Valero's common stock
to $1.60 per share.
"This significant increase in our regular cash dividend shows
our commitment to returning cash to stockholders," said
Joe Gorder, Valero Chairman and
CEO. "Our strong operating performance and financial strength
have enabled us to continue to prudently invest capital to increase
the competiveness of our business for the long term."
As a reminder, Valero will host a conference call on
January 29, 2015 at 10:00 a.m. ET to discuss fourth quarter and full
year 2014 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 web site at www.valero.com.
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.
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SOURCE Valero Energy Corporation