The Board of Directors of Valero Energy Corporation (NYSE:VLO) has increased by $0.01 per share its regular quarterly cash dividend on the company's common stock to $0.06 per share, which represents a 20 percent increase in the common stock dividend. The dividend is payable March 15, 2006 to holders of record at the close of business on February 15, 2006.
The Valero Board of Directors has also declared a regular quarterly cash dividend on the company’s 2 percent Mandatory Convertible Preferred Stock of $0.125 per share. The dividend is payable March 31, 2006 to holders of record at the close of business on March 30, 2006.
Valero Energy Corporation is scheduled to announce its fourth quarter earnings on Tuesday, January 31, 2006. A conference call with senior management is scheduled for 11:00 a.m. ET (10:00 a.m. CT) to discuss the financial and operational results for the quarter. To listen via the internet, please log on to the company’s website at www.valero.com.
About Valero
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and annual revenue of about $75 billion. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with more than 5,000 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit www.valero.com for more information.