BRENTWOOD, Tenn.--(BUSINESS WIRE)--Sep. 27, 2012--
Delek US Holdings, Inc. (NYSE: DK), a diversified energy company with
assets in the petroleum refining, marketing and retail industries, today
announced that its Board of Directors declared a special cash dividend
of $0.10 per share. Shareholders of record on October 16, 2012 will
receive the special cash dividend payable on October 30, 2012.
The Company also announced that it has fully repaid from cash on hand
the remaining $38.5 million of debt that was owed to an affiliate of
Delek Group, Ltd. This debt was primarily associated with the Company’s
acquisition of Lion Oil Company in April 2011.
"Our business and cash flow generation remains very strong. This
presents us with opportunities to improve our financial flexibility and
better position the Company for long-term success,” remarked Uzi Yemin,
President and Chief Executive Officer of Delek US Holdings. “With
today’s special dividend announcement, our Board continues its
long-standing commitment to return value to our shareholders. Within the
last twelve months, we have announced four special dividends and four
regular dividends totaling an aggregate of $0.62 per share. We look
forward to leveraging our strong free cash flow further and expect to
re-evaluate our regular dividend policy by the end of this year.”
About Delek US Holdings
Delek US Holdings, Inc. is a diversified downstream energy company
focused on petroleum refining, the wholesale distribution of refined
products and convenience store retailing. The refining segment consists
of refineries operated in Tyler, Texas and El Dorado, Arkansas with a
combined nameplate production capacity of 140,000 barrels per day. The
marketing and supply segment markets refined products through a series
of owned and third-party product terminals and pipelines. The retail
segment supplies fuels and merchandise through a network of
approximately 374 company-operated convenience store locations operated
under the MAPCO Express®, MAPCO Mart®, East Coast®, Fast Food and Fuel™,
Favorite Markets®, Delta Express® and Discount Food Mart™ brand names.
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 our current estimates, expectations
and projections about our future results, performance, prospects and
opportunities and other statements, concerns, or matters that are not
historical facts are “forward-looking statements,” as that term is
defined under the federal securities laws.
Investors are cautioned that the following important factors, among
others, may affect these forward-looking statements. These factors
include but are not limited to: management's ability to execute its
strategy through acquisitions and transactional risks in acquisitions;
risks and uncertainties with the respect to the quantities and costs of
crude oil, the costs to acquire feedstocks and the price of the refined
petroleum products we ultimately sell; our competitive position and the
effects of competition; the projected growth of the industry in which we
operate; changes in the scope, costs, and/or timing of capital projects;
losses from derivative instruments; general economic and business
conditions, particularly levels of spending relating to travel and
tourism or conditions affecting the southeastern United States;
potential conflicts of interest between our majority stockholder and
other stockholders; and other risks contained in our filings with the
United States Securities and Exchange Commission.
Forward-looking statements should not be read as a guarantee of future
performance or results and will not be accurate indications of the times
at, or by which such performance or results will be achieved.
Forward-looking information is based on information available at the
time and/or management's good faith belief with respect to future
events, and is subject to risks and uncertainties that could cause
actual performance or results to differ materially from those expressed
in the statements. Delek US undertakes no obligation to update or revise
any such forward-looking statements.
Source: Delek US Holdings, Inc.
Delek US Holdings, Inc.
U.S. Investor / Media Relations Contact:
Executive Vice President
Vice President of Investor Relations
Chris Hodges, 312-589-3505
Founder & CEO