HOUSTON, April 27, 2016 /PRNewswire/ -- The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership"), a Westlake company (NYSE:WLKP) declared on Wednesday a distribution of $0.3168 per unit, representing a 2.86% increase from the fourth quarter distribution. This is the seventh distribution announced by the Partnership since its successful IPO closing on August 4, 2014. The distribution will be payable on May 24, 2016, to unit holders of record on May 10, 2016.
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 LP is a limited partnership formed by Westlake Chemical Corporation to operate, acquire and develop facilities for the processing of natural gas liquids as well as other qualifying activities. Headquartered in Houston, Texas, the Partnership owns a 13.3% 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/.
SOURCE Westlake Chemical Partners LP