Westlake Chemical Partners LP Announces Fourth Quarter 2020 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners GP LLC has announced a quarterly distribution of $0.4714 per unit, marking the 26th consecutive quarterly distribution since the Partnership's IPO. This distribution will be payable on February 19, 2021, to unit holders of record as of February 4, 2021. Additionally, 100% of the Partnership’s distributions to non-U.S. investors will be subject to federal income tax withholding at the highest applicable rate.

Positive

• 26th consecutive quarterly distribution indicates stable financial performance.
• Distribution amount of $0.4714 per unit reflects consistent income to unit holders.

Negative

• None.

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 26th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on February 19, 2021, to unit holders of record on February 4, 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/20210125005663/en/

FAQ

What is the distribution amount for WLKP announced on January 25, 2021?

Westlake Chemical Partners announced a distribution of $0.4714 per unit on January 25, 2021.

When will the WLKP distribution be payable?

The distribution will be payable on February 19, 2021.

What is the significance of the 26th consecutive quarterly distribution for WLKP?

It signifies stable financial performance and commitment to returning value to unit holders.

Who is eligible for the WLKP distribution declared on January 25, 2021?

Unit holders of record as of February 4, 2021, are eligible for the distribution.

Are distributions to non-U.S. investors for WLKP subject to taxes?

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