Westlake Chemical Partners LP Announces Second Quarter 2021 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners GP has announced a distribution of $0.4714 per unit for Westlake Chemical Partners LP (NYSE:WLKP). This marks the 28th consecutive quarterly distribution since the Partnership's IPO. The distribution is set for August 26, 2021, with record holders cut-off on August 12, 2021. The release serves as a qualified notice under Treasury regulations, indicating that distributions to non-U.S. investors will face federal income tax withholding at the highest applicable rates.

Positive

• 28th consecutive quarterly distribution announced.
• Distribution of $0.4714 per unit indicates consistent returns.

Negative

• Distributions to non-U.S. investors subject to high federal 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 28th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on August 26, 2021, to unit holders of record on August 12, 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/20210802005432/en/

FAQ

When will the distribution for WLKP be paid?

The distribution for WLKP will be paid on August 26, 2021.

What is the amount of the distribution declared by WLKP?

The amount of the distribution declared by WLKP is $0.4714 per unit.

How many consecutive distributions has WLKP announced?

WLKP has announced its 28th consecutive quarterly distribution.

What is the record date for the WLKP distribution?

The record date for the WLKP distribution is August 12, 2021.