Sunday, December 22, 2024

Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.63 per Limited Partner Unit

 July 25, 2016 - 5:00 PM EDT

Print

Email Article

Font Down

Font Up

Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.63 per Limited Partner Unit

Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) today
declared its quarterly cash distribution for the second quarter 2016 of
$0.63 per limited partner unit, or $2.52 per limited partner unit on an
annualized basis. This distribution represents a 3.3 percent increase
from the distribution for the first quarter 2016 of $0.61 per limited
partner unit ($2.44 per limited partner unit annualized) and a 14.5
percent increase over Delek Logistics’ distribution for the second
quarter 2015 of $0.55 per limited partner unit ($2.20 per limited
partner unit annualized). The second quarter 2016 cash distribution is
payable on August 12, 2016 to unitholders of record on August 5, 2016.

About Delek Logistics Partners, LP

Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, is
a growth-oriented master limited partnership formed by Delek US
Holdings, Inc. (NYSE: DK) (“Delek US”) to own, operate, acquire and
construct crude oil and refined products logistics and marketing assets.

Safe Harbor Provisions Regarding Forward-Looking Statements

This press release contains “forward-looking” statements within the
meaning of the federal securities laws. These statements contain words
such as “possible,” “believe,” “should,” “could,” “would,” “predict,”
“plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,”
“expect” or similar expressions, as well as statements in the future
tense, and can be impacted by numerous factors, including the fact that
a substantial majority of Delek Logistics' contribution margin is
derived from Delek US Holdings, thereby subjecting us to Delek US
Holdings' business risks; risks relating to the securities markets
generally; risks and costs relating to the age and operational hazards
of our assets including, without limitation, costs, penalties,
regulatory or legal actions and other affects related to releases,
spills and other hazards inherent in transporting and storing crude oil
and intermediate and finished petroleum products; the impact of adverse
market conditions affecting the business of Delek Logistics, including
margins generated by its wholesale fuel business; adverse changes in
laws including with respect to tax and regulatory matters and other
risks as disclosed in our annual report on Form 10-K, quarterly reports
on Form 10-Q and other reports and filings with the United States
Securities and Exchange Commission. There can be no assurance that
actual results will not differ from those expected by management or
described in forward-looking statements of Delek Logistics. 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.

Delek Logistics Partners, LP
Keith Johnson, 615-435-1366
Vice
President of Investor Relations

Source: Business Wire
(July 25, 2016 - 5:00 PM EDT)

News by QuoteMedia

www.quotemedia.com

Share: