Westlake Chemical Partners LP Announces Second Quarter 2022 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners has declared a quarterly distribution of $0.4714 per unit, payable on August 25, 2022, to unit holders of record by August 11, 2022. This marks the 32nd quarterly distribution since its IPO. The Partnership, operating and developing ethylene production facilities, holds a 22.8% interest in Westlake Chemical OpCo LP, which owns three processing facilities in Kentucky and Louisiana. Non-U.S. investors are subject to federal income tax withholding on distributions.

Positive

• Declared a quarterly distribution of $0.4714 per unit.
• This is the 32nd consecutive quarterly distribution since IPO.

Negative

• None.

• $0.4714 cents per unit distribution declared payable on August 25, 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 32nd quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on August 25, 2022, to unit holders of record on August 11, 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/20220801005769/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 distribution amount for WLKP announced in August 2022?

The distribution amount for WLKP announced is $0.4714 per unit.

When is the WLKP distribution payable?

The WLKP distribution is payable on August 25, 2022.

What is the significance of WLKP's 32nd distribution announcement?

This announcement marks the 32nd quarterly distribution since Westlake Chemical Partners' initial public offering.

Who will receive the WLKP distribution payments?

Unit holders of record by August 11, 2022, will receive the WLKP distribution payments.

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

Yes, WLKP distributions to non-U.S. investors are subject to federal income tax withholding.