Valero Energy Corporation Increases Regular Cash Dividend

Rhea-AI Summary

The Board of Directors of Valero Energy Corporation (NYSE: VLO) has announced an increase in the quarterly cash dividend from $0.98 to $1.02 per share. This adjustment raises the annualized dividend rate to $4.08 per share. The new dividend will be payable on March 16, 2023 to shareholders on record as of February 14, 2023.

Valero is a multinational manufacturer of petroleum-based and low-carbon fuels, with a significant operational presence in the United States, Canada, and the United Kingdom. The company owns 15 refineries with a throughput capacity of 3.2 million barrels per day.

Positive

• Quarterly cash dividend increased from $0.98 to $1.02 per share.
• Annualized cash dividend rate now $4.08 per share.

Negative

• None.

SAN ANTONIO--(BUSINESS WIRE)-- 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 $0.98 per share to $1.02 per share. The dividend is payable on March 16, 2023 to holders of record at the close of business on February 14, 2023. The increase in the dividend raises the annualized cash dividend rate on Valero’s common stock to $4.08 per share.

About Valero

Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (“U.S.”), Canada, the United Kingdom (“U.K.”), Ireland and Latin America. Valero owns 15 petroleum refineries located in the U.S., Canada and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which owns two renewable diesel plants located in the U.S. Gulf Coast region with a production capacity of approximately 1.2 billion gallons per year, and Valero owns 12 ethanol plants located in the U.S. Mid-Continent region with a combined production capacity of approximately 1.6 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments. Please visit investorvalero.com for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006035/en/

Valero Contacts

Investors:

Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982

Eric Herbort, Director – Investor Relations, 210-345-3331

Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992

Media:

Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

Source: Valero Energy Corporation

FAQ

What is the new dividend amount for Valero Energy (VLO)?

Valero Energy Corporation has increased its quarterly cash dividend to $1.02 per share.

When is the dividend for Valero Energy (VLO) payable?

The dividend is payable on March 16, 2023.

Who is eligible to receive the Valero Energy (VLO) dividend?

Shareholders who are on record as of February 14, 2023, are eligible to receive the dividend.

What is the annualized dividend rate for Valero Energy (VLO) after the increase?

The annualized cash dividend rate for Valero Energy has increased to $4.08 per share.