Delek US Announces Special Dividend of $0.20 per share

Rhea-AI Summary

Delek US Holdings (NYSE: DK) has declared a special dividend of $0.20 per share, payable on July 20, 2022, to shareholders of record by July 12, 2022. This announcement reflects a strong macro environment for refining and is complemented by a recent $64 million share repurchase at $18.30 per share, representing 5% of its outstanding shares. The company prioritizes returning cash to shareholders while maintaining a solid balance sheet, with further assessment of a sustained dividend expected during the second quarter earnings announcement in early August.

Positive

• Special dividend of $0.20 per share indicates strong financial health.
• Recent share repurchase of $64 million shows commitment to returning cash to shareholders.

Negative

• None.

BRENTWOOD, Tenn., June 21, 2022 /PRNewswire/ -- Delek US Holdings, Inc. (NYSE: DK) ("Delek US") today announced that the board of directors declared a special dividend of $0.20 per share. The dividend is payable on July 20, 2022 to shareholders of record on July 12, 2022.

This special dividend is indicative of a robust macro environment for refining and complements the $64 million share repurchase, at $18.30 per share, from the Icahn Group on March 7, 2022, which represented approximately 5% of the shares outstanding at that time. Return of cash to shareholders remains a priority for the company along with maintaining a strong and flexible balance sheet. The board will assess the potential for instituting a sustained dividend payment in connection with the second quarter earnings results which are scheduled to be announced in early August.

About Delek US Holdings, Inc.
Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing.  The refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.

The logistics operations consist of Delek Logistics. Delek US and its affiliates also own the general partner and an approximate 80 percent limited partner interest in Delek Logistics. Delek Logistics is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets.

The convenience store retail business operates approximately 250 convenience stores in central and west Texas and New Mexico.

 

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SOURCE Delek US Holdings, Inc.

FAQ

What is the amount of the special dividend declared by Delek US?

Delek US declared a special dividend of $0.20 per share.

When will the special dividend be paid?

The special dividend will be paid on July 20, 2022.

What is the record date for the special dividend?

The record date for the special dividend is July 12, 2022.

How much did Delek US spend on share repurchases?

Delek US spent $64 million on share repurchases.

What percentage of shares outstanding was repurchased?

The repurchased shares represented approximately 5% of the shares outstanding.