Valero Energy Corp. (VLO) Tops Q2 EPS by 7c; Boosts Dividend; to Separate Retail Business

July 31, 2012 7:48 AM EDT
Get Alerts VLO Hot Sheet
Trade VLO Now!
Join SI Premium – FREE
Valero Energy Corp. (NYSE: VLO) reported Q2 EPS of $1.50, $0.07 better than the analyst estimate of $1.43. Revenue for the quarter came in at $34.66 million versus the consensus estimate of $32.62 million.

Valero also reported today that its Board of Directors authorized company management to pursue a separation of Valero`s retail business from the remainder of Valero. The company is currently reviewing several potential separation transactions, including a tax-efficient distribution of the retail business to Valero shareholders. Credit Suisse Securities (USA) LLC is advising Valero in connection with this process.

Boosts dividend from by 15 cents to 17.5 cents.

For earnings history and earnings-related data on Valero Energy Corp. (VLO) click here.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Dividends, Earnings, Hot Corp. News, Hot Dividends, Mergers and Acquisitions

Related Entities

Credit Suisse, Dividend, Earnings

Add Your Comment