Valero Services Inc : Valero Energy Corporation Increases Dividend on Common Stock

 Valero Services Inc : Valero Energy Corporation Increases Dividend on Common
                                    Stock

SAN ANTONIO,  January 23,  2013 -  The  Board of  Directors of  Valero  Energy 
Corporation ("Valero", NYSE:VLO)  has approved  an increase  in the  company's 
regular quarterly cash dividend on common stock from $0.175 per share to $0.20
per share, effective with the quarterly dividend the Board has declared to  be 
payable on March 13,  2013 to holders  of record at the  close of business  on 
February 13, 2013. The increase in the dividend raises the annualized dividend
rate on the company's common stock to $0.80 per common share.

"This dividend  increase reflects  our  positive outlook  for Valero  and  our 
commitment to return more cash to shareholders," said Valero Chairman and  CEO 
Bill Klesse.

As a reminder, Valero will host a conference call on January 29, 2013 at 10:00
a.m. CT to discuss fourth quarter  and full-year earnings results, which  will 
be released earlier  that day, and  provide an update  on company  operations. 
Persons interested in listening to the presentation live via the internet  may 
log on to Valero's web site at www.valero.com.

About Valero
Valero Energy  Corporation,  through  its subsidiaries,  is  an  international 
manufacturer  and  marketer  of  transportation  fuels,  other   petrochemical 
products and power.  Valero subsidiaries employ  approximately 22,000  people, 
and assets include 16 petroleum refineries with a combined throughput capacity
of approximately 3 million barrels per day, 10 ethanol plants with a  combined 
production capacity of 1.2  billion gallons per year,  and a 50-megawatt  wind 
farm. Approximately  6,800  retail and  branded  wholesale outlets  carry  the 
Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States  and 
the Caribbean;  Ultramar in  Canada;  and Texaco  in  the United  Kingdom  and 
Ireland. Valero is a  Fortune 500 company based  in San Antonio. Please  visit 
www.valero.com for more information.

Safe-Harbor Statement
Statements contained in this release that state the company's or  management's 
expectations or  predictions  of  the future  are  forward-looking  statements 
intended to be covered by the safe harbor provisions of the Securities Act  of 
1933 and the Securities Exchange Act  of 1934. The words "believe,"  "expect," 
"should," "estimates," and other similar expressions identify  forward-looking 
statements.  It  is  important  to  note  that  actual  results  could  differ 
materially from those projected in  such forward-looking statements. For  more 
information concerning factors that could cause actual results to differ  from 
those expressed or forecasted,  see Valero's annual reports  on Form 10-K  and 
quarterly reports  on  Form  10-Q,  filed with  the  Securities  and  Exchange 
Commission and on Valero's website at www.valero.com.

Contacts
Investors: Ashley Smith, Vice President - Investor Relations, 210-345-2744
Media: Bill Day, Executive Director - Corporate Communications, 210-345-2928
Website: http://www.valero.com

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Source: Valero Services Inc via Thomson Reuters ONE
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