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4-Traders Homepage  >  Equities  >  Nyse  >  Valero Energy Partners LP    VLP

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Valero Energy Partners LP : Increases Quarterly Cash Distribution by 5.6 Percent

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01/20/2017 | 10:14pm CET

SAN ANTONIO, Jan. 20, 2017 (GLOBE NEWSWIRE) -- The Board of Directors of Valero Energy Partners GP LLC, the general partner of Valero Energy Partners LP (NYSE:VLP) (the Partnership), has approved the Partnership's fourth quarter 2016 cash distribution of $0.4065 per unit. This distribution represents a 5.6 percent increase over the Partnership's previous quarterly distribution. The distribution is payable on February 10, 2017 to unitholders of record at the close of business on February 2, 2017.

This release is intended to be a qualified notice to nominees under Treasury Regulation Section 1.1446-4(b). All of the Partnership's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to U.S. federal income tax withholding at the highest effective tax rate.

About Valero Energy Partners LP
Valero Energy Partners LP is a fee-based master limited partnership formed by Valero Energy Corporation to own, operate, develop and acquire crude oil and refined products pipelines, terminals, and other transportation and logistics assets. With headquarters in San Antonio, the Partnership's assets include crude oil and refined petroleum products pipeline and terminal systems in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of 10 of Valero's refineries. Please visit www.valeroenergypartners.com for more information.

Contacts

Investors:John Locke, Vice President - Investor Relations, 210-345-3077Karen Ngo, Senior Manager - Investor Relations, 210-345-4574

Media:Lillian Riojas, Director - Media and Communications, 210-345-5002

Valero Energy Partners LP

Valero Energy Partners LP published this content on 20 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 January 2017 21:14:05 UTC.

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Financials ($)
Sales 2016 362 M
EBIT 2016 214 M
Net income 2016 193 M
Debt 2016 609 M
Yield 2016 3,12%
P/E ratio 2016 17,54
P/E ratio 2017 14,73
EV / Sales 2016 10,6x
EV / Sales 2017 9,08x
Capitalization 3 217 M
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Valero Energy Partners LP Technical Analysis Chart | VLP | US91914J1025 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 53,6 $
Spread / Average Target 12%
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Managers
NameTitle
Joseph W. Gorder Chairman & Chief Executive Officer
Richard F. Lashway President, Chief Operating Officer & Director
Donna M. Titzman Chief Financial Officer, Treasurer, Director & SVP
Robert S. Beadle Lead Independent Director
Timothy J. Fretthold Independent Director
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