Opinion on  Valero Energy Corp (VLO)     Sector: Energy  >  Industry: Oil & Gas Operations
VLO Key Developments

Valero Energy Corp. Declares Regular Cash Dividend October 25, 2007

Valero Energy Corp. announced that its Board of Directors declared a regular quarterly cash dividend on the Company's common stock of $0.12 per share. The dividend is payable December 12, 2007, to holders of record at the close of business on November 7, 2007.

Valero Energy Corp. Issues Q3 2007 EPS Guidance Below Analysts' Estimates October 10, 2007

Valero Energy Corp. anounced that for the third quarter of 2007, it expects to report earnings from continuing operations (EPS) excluding special items in the range of $1.30-$1.40 per share, EPS of $1.25-$1.35 per share, including these special items. The special items consist of a $91 million pre-tax gain on repayment of a loan by a foreign subsidiary and the effects on the computation of diluted earnings per share related to the Company's $94.5 million final payment for the accelerated stock repurchase program that was completed on July 23, 2007. The Company for the third quarter of 2007, also expects earnings from discontinued operations of approximately $0.75 per share related to the $827 million pre-tax gain on the sale of the Lima refinery. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.97 for the third quarter of 2007.

Valero Energy Corp. To Spend Millions For Pollution Controls-WSJ August 17, 2007

The Wall Street Journal reported that Valero Energy Corp. agreed to pay a $4.25 million penalty and spend $232 million to upgrade pollution controls at refineries in Tennessee, Ohio and Texas that were formerly owned by Premcor Inc. Valero Energy Corp. reached the agreement with the Justice Department and the Environmental Protection Agency to come into compliance with the Clean Air Act, the Justice Department said. Under the agreement, new pollution controls will be installed at refineries in Port Arthur, Texas; Lima, Ohio; and Memphis, Tenn.

Valero Energy Corp. Declares Regular Cash Dividend On Common Stock July 12, 2007

Valero Energy Corp. announced that it has declared a regular quarterly cash dividend on the Company's common stock of $0.12 per share. The dividend is payable September 6, 2007, to holders of record at the close of business on August 8, 2007.

Valero Energy Corp. Completes Sale Of Lima, Ohio Refinery To Husky Energy Inc July 3, 2007

Valero Energy Corp. announced that it has completed the sale of the Lima, Ohio refinery to Husky Energy Inc. Valero Energy Corporation owns and operates 18 refineries located in the United States, Canada and Aruba that produce refined products, such as reformulated gasoline blendstock for oxygenate blending, gasoline meeting the specifications of the California Air Resources Board (CARB), CARB diesel fuel, low-sulfur and ultra-low-sulfur diesel fuel, and oxygenates (liquid hydrocarbon compounds containing oxygen). It also produces conventional gasolines, distillates, jet fuel, asphalt, petrochemicals and other refined products. It markets branded and unbranded refined products on a wholesale basis in the United States and Canada through a bulk and rack marketing network. It sells refined products through a network of approximately 5,800 retail and wholesale branded outlets in the United States, Canada and Aruba. During the year ended December 31, 2006, it sold all of its ownership interest in Valero GP Holdings, LLC. In July 2007, the Company sold its Lima, Ohio refinery to Husky Energy Inc.