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Westlake Chemical Partners LP Announces Third Quarter 2024 Distribution

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Westlake Chemical Partners LP (NYSE:WLKP) has announced its third quarter 2024 distribution of $0.4714 per unit, marking its 41st quarterly distribution since its IPO. The distribution will be paid on November 27, 2024, to unitholders of record as of November 12, 2024. The announcement includes notice that 100% of distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

Westlake Chemical Partners LP (NYSE:WLKP) ha annunciato la sua distribuzione per il terzo trimestre del 2024 di $0,4714 per unità, segnando la sua 41ª distribuzione trimestrale dall'IPO. La distribuzione sarà effettuata il 27 novembre 2024, a favore degli azionisti registrati al 12 novembre 2024. L'annuncio include una nota che il 100% delle distribuzioni agli investitori non statunitensi è soggetto a ritenuta d'imposta federale al tasso d'imposta effettivo più alto applicabile.

Westlake Chemical Partners LP (NYSE:WLKP) ha anunciado su distribución del tercer trimestre de 2024 de $0.4714 por unidad, marcando su 41ª distribución trimestral desde su OPI. La distribución se pagará el 27 de noviembre de 2024, a los tenedores de unidades que estén registrados a partir del 12 de noviembre de 2024. El anuncio incluye el aviso de que el 100% de las distribuciones a inversores no estadounidenses están sujetas a retención de impuestos federales a la tasa impositiva efectiva más alta aplicable.

웨스트레이크 케미컬 파트너스 LP (NYSE:WLKP)는 2024년 3분기 배당금을 $0.4714 per unit으로 발표하며 IPO 이후 41번째 분기 배당이 된다고 밝혔습니다. 배당금은 2024년 11월 27일에 지급되며, 2024년 11월 12일 기준으로 등록된 유닛 보유자에게 지급됩니다. 발표에는 비미국 투자자에게 지급되는 배당금의 100%가 가장 높은 적용 세율로 연방 소득세 원천징수 대상임을 알리는 내용이 포함되어 있습니다.

Westlake Chemical Partners LP (NYSE:WLKP) a annoncé sa distribution du troisième trimestre 2024 de $0,4714 par unité, marquant sa 41ème distribution trimestrielle depuis son introduction en bourse. La distribution sera effectuée le 27 novembre 2024, pour les détenteurs de parts inscrits au 12 novembre 2024. L'annonce inclut une notification selon laquelle 100 % des distributions aux investisseurs non américains sont soumises à une retenue d'impôt fédéral au taux effectif le plus élevé applicable.

Westlake Chemical Partners LP (NYSE:WLKP) hat die Ausschüttung für das dritte Quartal 2024 in Höhe von $0,4714 pro Einheit bekannt gegeben, was die 41. vierteljährliche Ausschüttung seit dem Börsengang markiert. Die Ausschüttung wird am 27. November 2024 an die zum 12. November 2024 eingetragenen Anteilseigner ausgezahlt. In der Ankündigung wird darauf hingewiesen, dass 100% der Ausschüttungen an nicht-US-Investoren der höchsten anwendbaren effektiven Körperschaftsteuer unterliegen.

Positive
  • Maintains consistent quarterly distribution pattern, demonstrating stability in cash flow
  • 41 consecutive quarterly distributions since IPO showing sustainable distribution history
Negative
  • None.

Insights

The quarterly distribution of $0.4714 per unit maintains WLKP's consistent dividend policy, marking their 41st consecutive quarterly payout since IPO. With an annualized distribution of $1.89 per unit, this translates to a yield of approximately 8.2% based on current market prices. The distribution remains unchanged from previous quarters, demonstrating stability in cash flow generation from their ethylene production operations. The maintenance of this distribution level signals management's confidence in the partnership's ability to sustain its payout despite challenging market conditions in the petrochemical industry. For non-U.S. investors, the tax treatment as effectively connected income (ECI) requires withholding at the highest applicable rate.

  • $0.4714 per unit distribution declared payable on November 27, 2024

HOUSTON--(BUSINESS WIRE)-- The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution of $0.4714 per unit. This is the 41st quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 27, 2024, to unit holders of record on November 12, 2024.

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 Corporation to operate, acquire and develop ethylene production facilities and other qualified assets. Headquartered in Houston, the Partnership owns a 22.8% 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.

Media Inquiries:

Westlake Corp.

Ben Ederington, 1-713-585-2900

or

Investor Inquiries:

Westlake Corp.

Steve Bender, 1-713-585-2900

Source: Westlake Chemical Partners

FAQ

What is Westlake Chemical Partners' (WLKP) Q3 2024 distribution amount?

Westlake Chemical Partners LP (WLKP) declared a distribution of $0.4714 per unit for the third quarter of 2024.

When is WLKP's Q3 2024 distribution payable?

The distribution is payable on November 27, 2024, to unitholders of record as of November 12, 2024.

How many quarterly distributions has WLKP made since its IPO?

This is WLKP's 41st quarterly distribution since its initial public offering.

What is the tax treatment for WLKP's distributions to non-U.S. investors?

100% of distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

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Specialty Chemicals
Industrial Organic Chemicals
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