Westlake Chemical Partners LP Announces First Quarter 2021 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit for the Partnership (NYSE:WLKP), marking the 27th consecutive quarterly distribution since its IPO. This distribution is scheduled for payment on May 27, 2021, to unit holders recorded by May 13, 2021. Notably, non-U.S. investors will face federal income tax withholding at the highest applicable rate due to regulations concerning income effectively connected with U.S. trade or business.

Positive

• 27th consecutive quarterly distribution
• $0.4714 distribution per unit
• Scheduled payment increases shareholder returns

Negative

• Non-U.S. investors subject to higher tax withholding

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 by the Partnership of $0.4714 per unit. This is the 27th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on May 27, 2021, to unit holders of record on May 13, 2021.

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, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210503005553/en/

FAQ

What is the recent distribution amount declared by Westlake Chemical Partners LP?

Westlake Chemical Partners LP has declared a distribution of $0.4714 per unit.

When will the distribution by Westlake Chemical Partners LP be payable?

The distribution will be payable on May 27, 2021.

How many consecutive quarterly distributions has Westlake Chemical Partners LP announced?

Westlake Chemical Partners LP has announced its 27th consecutive quarterly distribution.

What is the record date for the distribution by Westlake Chemical Partners LP?

The record date for the distribution is May 13, 2021.

Are non-U.S. investors affected by the distribution from Westlake Chemical Partners LP?

Yes, non-U.S. investors are subject to federal income tax withholding at the highest effective rate.