Westlake Chemical Partners LP Announces First Quarter 2022 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners LP has declared a quarterly distribution of $0.4714 per unit, set to be payable on May 26, 2022. This marks the 31st quarterly distribution since the Partnership's IPO. Unit holders of record as of May 12, 2022 will receive this distribution. Additionally, non-U.S. investors' distributions are subject to federal income tax withholding at the highest applicable rate, as per Treasury regulations.

Positive

• Continued distribution of $0.4714 per unit demonstrates financial stability.
• 31st quarterly distribution reflects consistent performance since IPO.

Negative

• None.

• $0.4714 cents per unit distribution declared payable on May 26, 2022

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 31st quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on May 26, 2022, to unit holders of record on May 12, 2022.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005040/en/

Media Inquiries:

Westlake Chemical Corp.

Ben Ederington, 1-713-585-2900

or

Investor Inquiries:

Westlake Chemical Corp.

Steve Bender, 1-713-585-2900

Source: Westlake Chemical Partners LP

FAQ

What is the recent distribution per unit for Westlake Chemical Partners (WLKP)?

The recent distribution declared by Westlake Chemical Partners is $0.4714 per unit.

When will the distribution for Westlake Chemical Partners (WLKP) be payable?

The distribution will be payable on May 26, 2022.

What is the record date for the distribution of Westlake Chemical Partners (WLKP)?

The record date for the distribution is May 12, 2022.

How many quarterly distributions has Westlake Chemical Partners (WLKP) declared since its IPO?

Westlake Chemical Partners has declared 31 quarterly distributions since its IPO.

What tax implications are there for non-U.S. investors receiving distributions from Westlake Chemical Partners (WLKP)?

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