Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $1.045 per Common Limited Partner Unit

Rhea-AI Summary

Delek Logistics Partners, LP (NYSE: DKL) has declared a quarterly cash distribution for Q3 2023 of $1.045 per common limited partner unit, representing a 1.0% increase from Q2 2023 and a 5.6% increase from Q3 2022. The distribution is payable on November 13, 2023.

Positive

• Delek Logistics has increased its quarterly cash distribution by 1.0% from Q2 2023 to $1.045 per common limited partner unit, which could positively impact the stock price.
• The 5.6% increase in Delek Logistics' cash distribution from Q3 2022 to $1.045 per common limited partner unit may attract investors and contribute to a potential rise in the stock price.

Negative

• None.

BRENTWOOD, Tenn., Oct. 25, 2023 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today declared its quarterly cash distribution for the third quarter 2023 of $1.045 per common limited partner unit, or $4.18 per common limited partner unit on an annualized basis. This distribution represents a 1.0 percent increase from the distribution for the second quarter 2023 of $1.035 per common limited partner unit ($4.14 per common limited partner unit annualized) and a 5.6 percent increase over Delek Logistics' distribution for the third quarter 2022 of $0.990 per common limited partner unit ($3.96 per common limited partner unit annualized). The third quarter 2023 cash distribution is payable on November 13, 2023, to unitholders of record on November 6, 2023.

About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline, transportation, and other services for its customers in crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling.

Delek US Holdings, Inc. (NYSE: DK) ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics and is also a significant customer.

Safe Harbor Provisions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning future distributions, including the amounts and timing thereof, current estimates, expectations or projections about future distributions, results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are "forward-looking statements," within the meaning of federal securities laws. Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and investors are cautioned that risks described in Delek Logistics' filings with the United States Securities and Exchange Commission, among others, could cause actual performance or results to differ materially from those expressed in the statements. There can be no assurance that actual results will not differ from those expected by management or described in forwardlooking statements. Delek Logistics undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof.

Tax Considerations
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Delek Logistics Partners, LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Delek Logistics Partners, LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate for individuals or corporations, as applicable. Nominees, and not Delek Logistics Partners, LP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors. 

Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (https://www.deleklogistics.com/investor-relations), news webpage (https://www.deleklogistics.com/news-releases) and its Twitter account (@DelekLogistics).

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SOURCE Delek Logistics Partners, LP

FAQ

What is the cash distribution declared by Delek Logistics for Q3 2023?

Delek Logistics has declared a cash distribution of $1.045 per common limited partner unit for Q3 2023.

How does the Q3 2023 cash distribution compare to the previous quarters?

The Q3 2023 cash distribution of $1.045 per common limited partner unit represents a 1.0% increase from Q2 2023 and a 5.6% increase from Q3 2022.

When will the Q3 2023 cash distribution be payable?

The Q3 2023 cash distribution will be payable on November 13, 2023.

Who is eligible to receive the Q3 2023 cash distribution?

Unitholders of record on November 6, 2023, will be eligible to receive the Q3 2023 cash distribution.