CVR Energy Declares $6.50 Special Dividend
SUGAR LAND, Texas, May 28, 2013
SUGAR LAND, Texas, May 28, 2013 /PRNewswire/ --CVR Energy, Inc. (NYSE: CVI)
("CVR Energy") announced today that its board of directors has declared a
special dividend of $6.50 per share payable on June 10, 2013, to stockholders
of record at the close of business on June 3, 2013. The total amount of the
special dividend payment will be approximately $564 million and brings the
company's cumulative dividends declared in 2013 to approximately $1.1 billion.
CVR Energy owns the general partner and a majority interest in each of CVR
Refining, LP (NYSE: CVRR) ("CVR Refining") and CVR Partners, LP (NYSE: UAN)
("CVR Partners"). CVR Refining and CVR Partners each recently completed
public offerings that generated net proceeds to CVR Energy of approximately
$700 million, which combined with strong operations, allows the company to
return significant additional capital to stockholders.
"Surpassing the billion dollar mark in returns to our stockholders by mid-year
speaks volumes about the strength of our operating performance," said CVR
Energy Chairman Carl C. Icahn. "Our repeated ability to return capital
demonstrates our ongoing commitment to providing outstanding value to our
This news release may contain forward-looking statements within the meaning of
Section27A of the Securities Act of 1933, as amended, and Section21E of the
Securities Exchange Act of 1934, as amended.You can generally identify
forward-looking statements by our use of forward-looking terminology such as
"anticipate," "believe," "continue," "could," "estimate," "expect," "explore,"
"evaluate," "intend," "may," "might," "plan," "potential," "predict," "seek,"
"should," or "will," or the negative thereof or other variations thereon or
comparable terminology.These forward-looking statements are only predictions
and involve known and unknown risks and uncertainties, many of which are
beyond our control.For a discussion of risk factors which may affect our
results, please see the risk factors and other disclosures included in our
most recent Annual Report on Form10-K, and any subsequently filed Quarterly
Reports on Form10-Q. These risks may cause our actual results, performance
or achievements to differ materially from any future results, performance or
achievements expressed or implied by these forward-looking statements.Given
these risks and uncertainties, you are cautioned not to place undue reliance
on such forward-looking statements.The forward-looking statements included in
this press release are made only as of the date hereof.CVR Energy disclaims
any intention or obligation to update publicly or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except to the extent required by law.
Stockholders should consult their tax advisors regarding the tax effects of
the dividend to them.
About CVR Energy, Inc.
Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding
company primarily engaged in the petroleum refining and nitrogen fertilizer
manufacturing industries through its holdings in two limited partnerships, CVR
Refining, LP and CVR Partners, LP. CVR Energy subsidiaries serve as the
general partner and own a majority of the common units representing limited
partner interests of CVR Refining and CVR Partners.
For further information, please contact:
CVR Energy, Inc.
CVR Energy, Inc.
SOURCE CVR Energy, Inc.
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