SAN ANTONIO, Jan. 21, 2014 /PRNewswire/ -- The Board of Directors of Valero Energy Partners LP (NYSE: VLP) has approved the partnership's fourth quarter 2013 cash distribution of $0.037 per unit. This is the first distribution declared by the partnership and corresponds to the minimum quarterly distribution of $0.2125 per unit, or $0.85 per unit annually. The amount is prorated for the partial quarter following the closing of Valero Energy Partners LP's initial public offering on December 16, 2013. The distribution is payable on February 12, 2014 to unitholders of record at the close of business on January 31, 2014.
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 is 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 federal income tax withholding at the highest effective tax rate.
About Valero Energy Partners LP
Valero Energy Partners LP is a fee-based, growth-oriented, traditional master limited partnership formed by Valero Energy Corporation to own, operate, develop and acquire crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. With headquarters in San Antonio, Valero Energy Partners' 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 Valero's refinery located in Port Arthur, Texas, its McKee refinery located in Sunray, Texas, and its refinery located in Memphis, Tennessee.
Investors: John Locke, 210-345-3077
Media: Bill Day, 210-345-2928
SOURCE Valero Energy Partners LP