The Board of Directors of Valero Energy Corporation approved an increase in the company’s regular quarterly cash dividend on common stock from $0.60 per share to $0.70 per share, effective with the quarterly dividend the Board has declared to be payable on March 7, 2017 to holders of record at the close of business on February 15, 2017. The increase in the dividend raises the annualized cash dividend rate on Valero’s common stock to $2.80 per share.