Westlake Chemical Partners LP Announces Third Quarter 2021 Distribution

Rhea-AI Summary

The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, payable on November 29, 2021, to unit holders of record as of November 12, 2021. This marks the 29th consecutive quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that distributions are subject to federal income tax withholding. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.

Positive

• Declared a distribution of $0.4714 per unit.
• 29th consecutive quarterly distribution since IPO.
• Westlake Chemical Partners holds a 22.8% interest in a profitable operation.

Negative

• None.

• $0.4714 cents per unit distribution declared payable on November 29, 2021

 

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 29th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 29, 2021, to unit holders of record on November 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/20211101005823/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 declared by Westlake Chemical Partners for November 2021?

Westlake Chemical Partners declared a distribution of $0.4714 per unit, payable on November 29, 2021.

How often has Westlake Chemical Partners declared distributions since its IPO?

Westlake Chemical Partners has declared distributions for 29 consecutive quarters since its IPO.

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

The record date for the upcoming distribution is November 12, 2021.

What percentage of interest does Westlake Chemical Partners have in Westlake Chemical OpCo LP?

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

Are there tax implications for non-U.S. investors receiving distributions from Westlake Chemical Partners?

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