Westlake Chemical Partners LP Announces Second Quarter 2023 Distribution

Rhea-AI Summary

Westlake Chemical Partners LP declares a distribution of $0.4714 per unit payable on August 25, 2023.

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• Westlake Chemical Partners LP declares a distribution of $0.4714 per unit, marking the 36th quarterly distribution since its IPO.

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• None.

• $0.4714 per unit distribution declared payable on August 25, 2023

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 36th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on August 25, 2023, to unit holders of record on August 11, 2023.

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/20230801035753/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

When will the distribution be payable?

The distribution will be payable on August 25, 2023.

What is the amount of the distribution?

The distribution is $0.4714 per unit.

How many distributions have been announced since the IPO?

This is the 36th quarterly distribution announced by the Partnership since its initial public offering.

Are non-U.S. investors subject to federal income tax withholding on the distributions?

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