Holly Energy Partners Announces Quarterly Distribution of $0.35 per LP unit
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for Q1 2023, payable on May 11, 2023, to unitholders of record on May 1, 2023.
HEP will release its Q1 2023 results on May 4, 2023, prior to NYSE trading, followed by a webcast at 8:30 a.m. ET to discuss financial outcomes.
This press release also serves as a qualified notice under tax regulations, informing that all distributions to foreign investors are subject to federal income tax withholding at the highest rate applicable.
Holly Energy Partners provides vital services in petroleum product and crude oil transportation and storage, operating pipelines and terminals across multiple U.S. states.
- Declared a cash distribution of $0.35 per unit for Q1 2023.
- Distribution to be paid on May 11, 2023, indicating consistent cash flow.
- None.
HEP plans to announce results for its first quarter of 2023 on
The webcast may be accessed at:
https://events.q4inc.com/attendee/866338392
Qualified Tax Notice:
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (
About
Forward Looking Statements:
This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking statements are based on our beliefs and assumptions and those of our general partner using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in our filings with the
- the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing COVID-19 pandemic on future demand and increasing societal expectations that companies address climate change;
- risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored or throughput in our terminals and refinery processing units;
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the economic viability of
HF Sinclair Corporation , our other customers and our joint ventures’ other customers, including any refusal or inability of our or our joint ventures’ customers or counterparties to perform their obligations under their contracts; - the demand for refined petroleum products in the markets we serve;
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our ability to purchase operations and integrate the operations we have acquired or may acquire, including the recently acquired
Sinclair Transportation Company LLC business; - our ability to complete previously announced or contemplated acquisitions;
- the availability and cost of additional debt and equity financing;
- the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipelines, terminal facilities and refinery processing units, due to reductions in demand, accidents, unexpected leaks or spills, unscheduled shutdowns, infection in the workforce, weather events, civil unrest, expropriation of assets, and other economic, diplomatic, legislative, or political events or developments, terrorism, cyberattacks, or other catastrophes or disruptions affecting our operations, terminal facilities, machinery, pipelines and other logistics assets, equipment, or information systems, or any of the foregoing of our suppliers, customers, or third-party service providers or lower gross margins due to the economic impact of the COVID-19 pandemic, inflation and labor costs, and any potential asset impairments resulting from, or the failure to have adequate insurance coverage for or receive insurance recoveries from, such actions;
- the effects of current and future government regulations and policies, including the effects of current and future restrictions on various commercial and economic activities in response to the COVID-19 pandemic and increases in interest rates;
- delay by government authorities in issuing permits necessary for our business or our capital projects;
- our and our joint venture partners' ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects;
- the possibility of terrorist or cyberattacks and the consequences of any such attacks;
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uncertainty regarding the effects and duration of global hostilities, including the
Russia -Ukraine war, and any associated military campaigns which may disrupt crude oil supplies and markets for refined products and create instability in the financial markets that could restrict our ability to raise capital; - general economic conditions, including economic slowdowns caused by a local or national recession or other adverse economic condition, such as periods of increased or prolonged inflation;
- the impact of recent or proposed changes in the tax laws and regulations that affect master limited partnerships; and
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other financial, operational and legal risks and uncertainties detailed from time to time in our
SEC filings.
The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Vice President, Investor Relations
or
Manager, Investor Relations
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FAQ
What is the cash distribution amount declared by HEP for Q1 2023?
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