Westlake Chemical Partners LP Announces Fourth Quarter 2022 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners GP LLC has declared a quarterly distribution of $0.4714 per unit, payable on February 16, 2023, to unit holders on record as of February 2, 2023. This marks the 34th quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that the distributions are subject to federal income tax withholding at the highest rate, as they are considered as effectively connected income with a U.S. trade or business.

Westlake Chemical Partners operates ethylene production facilities and owns a 22.8% interest in Westlake Chemical OpCo LP, which has assets in Kentucky and Louisiana.

Positive

• Declared a quarterly distribution of $0.4714 per unit, consistent cash flow to investors.
• This is the 34th distribution since IPO, reflecting a strong track record.

Negative

• None.

• $0.4714 per unit distribution declared payable on February 16, 2023

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 34th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on February 16, 2023, to unit holders of record on February 2, 2023.

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/20230123005558/en/

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

When will the next distribution be paid to WLKP investors?

The next distribution of $0.4714 per unit will be payable on February 16, 2023.

What is the record date for the distribution from Westlake Chemical Partners?

The record date for the distribution is February 2, 2023.

What percentage interest does WLKP hold in Westlake Chemical OpCo LP?

Westlake Chemical Partners LP holds a 22.8% interest in Westlake Chemical OpCo LP.

What are the tax implications for non-U.S. investors receiving distributions from WLKP?

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