Valero Energy Corp. declares dividends on common stock and convertible preferred stock

Business Wire, Jan 23, 1996

SAN ANTONIO--(BUSINESS WIRE)--Jan. 23, 1996--The Board of Directors of Valero Energy Corporation (NYSE:VLO) Tuesday declared a regular quarterly cash dividend on the company's common stock of $.13 per common share.

The dividend is payable March 8, 1996, to holders of record at the close of business February 9, 1996.

In addition, Valero's Board of Directors declared a cash dividend of $.78125 per share on the company's $3.125 Convertible Preferred Stock. This dividend is payable March 1, 1996, to holders of record at the close of business February 9, 1996.

Valero Energy is a diversified energy company engaged in the production, transportation and marketing of environmentally clean fuels and products. The company's three core businesses are specialized refining, natural gas and natural gas liquids.

Valero refines high-sulfur atmospheric residual oil into premium products, primarily reformulated gasoline, at its refinery in Corpus Christi, Texas, and markets those products.

In addition, the company has an 8,000-mile network of natural gas transmission and gathering lines throughout Texas; purchases natural gas for resale to distribution companies, electric utilities, other pipelines and industrial customers throughout the United States and Mexico; and provides gas transportation services to third parties. Valero also owns eight natural gas processing plants and is a major producer and marketer of natural gas liquids.

CONTACT: Valero Energy Corp., San Antonio

Keith Booke, 210/246-2099