Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.475
per limited partner unit
Represents a 20.3% increase from Second Quarter 2013
BRENTWOOD, Tenn. -- July 28, 2014
Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) today announced
the declaration of its quarterly cash distribution for the second quarter 2014
of $0.475 per limited partner unit, or $1.90 per unit on an annualized basis.
This distribution represents an 11.8 percent increase from the first quarter
2014 distribution of $0.425 per limited partner unit ($1.70 per limited
partner unit annualized) and a 20.3 percent increase over Delek Logistics’
second quarter 2013 distribution of $0.395 per limited partner unit ($1.58 per
limited partner unit annualized). The second quarter 2014 cash distribution is
payable on August 14, 2014 to unitholders of record on August 7, 2014.
“We are pleased to significantly increase our distribution this quarter,”
remarked Uzi Yemin, Chairman and Chief Executive Officer of Delek Logistics’
general partner. “Our focus on growth over the past year, coupled with
continued strong performance from our operations during 2014, has increased
our distributable cash flow. This strong financial position gives us the
confidence to both provide additional growth in our distribution and the
ability to continue evaluating opportunities to expand our operations.”
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 relating to the age of our assets and
operational hazards of our assets including, without limitation, 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; 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.
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 Logistic 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 Logistic 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
Alpha IR Group
Chris Hodges, 312-445-2870
Founder & CEO
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