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