Westlake Chemical Partners LP Announces Fourth Quarter 2021 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners LP has declared a quarterly distribution of $0.4714 per unit, marking the 30th such distribution since the Partnership's IPO. This distribution is set to be payable on February 17, 2022, to unit holders of record as of February 3, 2022. Notably, the Partnership is subject to federal income tax withholding for non-U.S. investors at the highest applicable rate. Westlake Chemical Partners operates ethylene production facilities and holds a 22.8% interest in Westlake Chemical OpCo LP.

Positive

• Declared a quarterly distribution of $0.4714 per unit.
• 30th quarterly distribution since IPO.
• Partnership operates ethylene production facilities.

Negative

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

• $0.4714 cents per unit distribution declared payable on February 17, 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 30th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on February 17, 2022, to unit holders of record on February 3, 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 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/20220124005606/en/

Media Inquiries:

Westlake Chemical Corp.

Ben Ederington, 1-713-960-9111

or

Investor Inquiries:

Westlake Chemical Corp.

Steve Bender, 1-713-960-9111

Source: Westlake Chemical Partners LP

FAQ

What is the distribution amount for Westlake Chemical Partners LP for February 2022?

The distribution amount is $0.4714 per unit.

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

The distribution will be payable on February 17, 2022.

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

The record date for the distribution is February 3, 2022.

How many quarterly distributions has Westlake Chemical Partners LP announced since its IPO?

Westlake Chemical Partners LP has announced 30 quarterly distributions since its IPO.

Is there a tax implication for non-U.S. investors receiving distributions from Westlake Chemical Partners LP?

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