SAN ANTONIO, April 21, 2015 /PRNewswire/ -- 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 first quarter 2015 cash distribution of $0.2775 per unit. This distribution represents a 4.3 percent increase over the Partnership's previous quarterly distribution and a 30.6 percent increase over the minimum quarterly distribution of $0.2125, which was paid in the first quarter of 2014. The distribution is payable on May 12, 2015 to unitholders of record at the close of business on May 1, 2015.
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 (U.S.) 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, 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, 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 several of Valero's refineries.
John Locke, Executive Director – Investor Relations, 210-345-3077
Karen Ngo, Manager – Investor Relations, 210-345-4574
Bill Day, Vice President – Communications, 210-345-2928
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SOURCE Valero Energy Partners LP