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VALERO ENERGY CORPORATION INCREASES DIVIDEND ON COMMON STOCK

 SAN ANTONIO, Texas, Sept. 16 /PRNewswire/ -- The board of directors of Valero Energy Corporation (NYSE: VLO) today increased the regular quarterly cash dividend on the company's common stock, declaring a $.13 per common share dividend. This is an increase from the previous quarterly cash dividend of $.11 per common share and is payable Dec. 7, 1993 to holders of record at the close of business Nov. 1, 1993.
 "This marks the fourth consecutive year in which we have increased the cash dividend on our common stock and reflects the continued long- term positive outlook we have for our business," said Bill Greehey, Valero's chairman of the board and chief executive officer.
 Valero Energy is involved primarily in the refining of high-sulfur atmospheric residual oil into premium products, such as unleaded gasoline, at its specialized refinery in Corpus Christi, Texas, and in the marketing of those products. Through subsidiaries, Valero is general partner of and has an approximate 49 percent interest in Valero Natural Gas Partners, L.P., which has a 7,200-mile network of natural gas transmission and gathering lines throughout Texas; purchases natural gas for resale to markets throughout the United States and Mexico; provides third party gas transportation services; and is a major producer and marketer of natural gas liquids.
 -0- 9/16/93
 /CONTACT: Keith Booke, Valero Energy Corporation, 210-246-2099/


CO: Valero Energy Corporation ST: Texas IN: OIL SU: DIV

TS -- NY044 -- 2654 09/16/93 11:40 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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