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Valero Energy Corporation Increases Regular Cash Dividend by 12.5 Percent

SAN ANTONIO, Jan. 24, 2019 (GLOBE NEWSWIRE) -- The Board of Directors of Valero Energy Corporation (NYSE: VLO, “Valero”) has approved an increase in the company’s regular quarterly cash dividend on common stock from $0.80 per share to $0.90 per share, effective with the quarterly dividend the Board has declared to be payable on March 5, 2019, to holders of record at the close of business on February 13, 2019. The increase in the dividend raises the annualized cash dividend rate on Valero’s common stock to $3.60 per share.

As a reminder, Valero will host a conference call on January 31, 2019 at 10 a.m. ET to discuss fourth quarter and full year 2018 earnings results, which will be released earlier that day, and to provide an update on company operations. Persons interested in listening to the presentation live via the internet may log on to Valero’s website at www.valero.com.

About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 50 company based in San Antonio, Texas, and it operates 15 petroleum refineries with a combined throughput capacity of approximately 3.1 million barrels per day and 14 ethanol plants with a combined production capacity of 1.73 billion gallons per year. The petroleum refineries are located in the United States, Canada and the United Kingdom, and the ethanol plants are located in the Mid-Continent region of the U.S. Valero also is a joint venture partner in Diamond Green Diesel, which operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,400 outlets carry Valero’s brand names. Please visit www.valero.com for more information.

Valero Contacts
Investors:
Homer Bhullar, Vice President – Investor Relations, 210-345-1982
Karen Ngo, Senior Manager – Investor Relations, 210-345-4574
Tom Mahrer, Manager – Investor Relations, 210-345-1953

Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

Safe-Harbor Statement
Statements contained in this release that state the company’s or management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “believe,” “expect,” “should,” “estimates,” “intend,” “target,” “will,” “plans,” and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the company’s control, such as delays in construction timing and other factors. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual reports on Form 10-K, quarterly reports on Form 10-Q, and our other reports filed with the Securities and Exchange Commission and on Valero’s website at www.valero.com.