Westlake Chemical Partners LP Announces Third Quarter 2020 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, marking the 25th consecutive quarterly distribution since the Partnership's IPO. This distribution will be payable on November 24, 2020, to unit holders of record as of November 9, 2020. Notably, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest effective tax rate. For more information about Westlake Chemical Partners LP, visit www.wlkpartners.com.

Positive

• Declared a distribution of $0.4714 per unit.
• Achieved 25 consecutive quarterly distributions since IPO.

Negative

• None.

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 by the Partnership of $0.4714 per unit. This is the 25th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 24, 2020, to unit holders of record on November 9, 2020.

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.