Westlake Chemical Partners LP Announces Third Quarter 2022 Distribution

Rhea-AI Summary

Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, marking the 33rd quarterly distribution since its IPO. This distribution will be payable on November 28, 2022, to unit holders of record on November 10, 2022. The distribution is subject to federal income tax withholding for non-U.S. investors. Westlake Chemical Partners LP operates ethylene production facilities and owns a 22.8% interest in Westlake Chemical OpCo LP, which includes facilities in Kentucky and Louisiana.

Positive

• Declared $0.4714 distribution per unit as the 33rd quarterly distribution.
• Distribution indicates strong cash flow and commitment to unit holders.

Negative

• None.

• $0.4714 cents per unit distribution declared payable on November 28, 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 33rd quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on November 28, 2022, to unit holders of record on November 10, 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/20221031005546/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

What is the amount of the latest distribution declared by Westlake Chemical Partners?

Westlake Chemical Partners has declared a distribution of $0.4714 per unit.

When will the distribution be paid to unit holders of Westlake Chemical Partners?

The distribution will be payable on November 28, 2022.

What is the significance of Westlake Chemical Partners' latest distribution announcement?

This is the 33rd quarterly distribution since the Partnership's IPO, indicating ongoing financial stability.

What date is the record for eligible unit holders for the distribution?

Unit holders must be recorded by November 10, 2022 to receive the distribution.

Are distributions to non-U.S. investors subject to taxes?

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