Valero Energy (NYSE:VLO) has increased its quarterly dividend to 17.5 cents.

Valero Energy Ups Dividend

The petrochemical products manufacturer Valero Energy (NYSE:VLO) has increased its regular quarterly dividend by 2.5 cents, up from $0.15 per share to $0.175 per share.

The dividend increase is effective with payable on September 12, 2012 to the holders of record on August 15, 2012.

Valero Energy (NYSE:VLO)’s chief executive officer Bill Klesse said, “With this increase, Valero Energy (NYSE:VLO)’s dividend per share is at the highest level in company history and shows our confidence in improved operations, favorable industry trends, and future benefits from our large growth projects that are nearing completion”.

Valero Energy (NYSE:VLO) shares were at 24.93 at the end of the last day’s trading. There’s been a 3.2% change in the stock price over the past 3 months.

Valero Energy (NYSE:VLO) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 10 out of 23 in the industry