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

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.

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