Westlake Chemical Partners LP Announces First Quarter 2021 Distribution, Payable on May 27, 2021
May 03, 2021 at 07:15 pm
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The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP, has declared a distribution by the Partnership of $0.4714 per unit. This is the 27th consecutive quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on May 27, 2021, to unit holders of record on May 13, 2021.
Westlake Chemical Partners LP is a limited partnership formed by Westlake Corporation to operate, acquire, and develop ethylene production facilities and other qualified assets. The Companyâs business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCos assets consist of three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline. The ethylene production facilities primarily convert ethane into ethylene and have an aggregate annual capacity of approximately 3.7 billion pounds, and a 200-mile ethylene pipeline. It owns two ethylene production facilities at Westlake's Lake Charles, Louisiana site (Petro 1 and Petro 2, collectively Lake Charles Olefins), with an annual combined capacity of approximately 3.0 billion pounds. The Company owns one ethylene production facility at Westlake's Calvert City, Kentucky site (Calvert City Olefins), with an annual capacity of approximately 730 million pounds.