BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek US Holdings, Inc. (NYSE: DK), a diversified energy company with assets in the petroleum refining, retail and logistics industries, today announced that its Board of Directors declared a special cash dividend of $0.10 per share. Shareholders of record on January 8, 2013 will receive the special cash dividend payable on January 29, 2013.
The Company also announced that the Board of Directors has elected Uzi Yemin to serve in the newly created position of Chairman of the Board. Mr. Yemin has served as Chief Executive Officer of Delek US since June 2004 and as President and a Director since April 2001. Mr. Yemin will continue in his role as President and Chief Executive Officer of Delek US Holdings, Inc.
“We are pleased to announce our fourth special dividend this year. We believe that this announcement combined with our recent 166 percent increase in our regular quarterly dividend demonstrates our Board’s commitment to return value to our shareholders,” remarked Yemin. “The strong cash flow generation we experienced during first nine months of 2012 has continued throughout the fourth quarter. This environment has allowed us to increase dividends, invest in our business for future growth and improve our balance sheet to a net cash position. We remain well positioned for additional growth during 2013, and will continue to focus on business performance, leveraging our strong free cash flow and returning value to our shareholders.”
About Delek US Holdings
Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, convenience store retailing and logistics. 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 retail segment supplies fuels and merchandise through a network of approximately 372 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. Subsidiaries of Delek US Holdings, Inc. also own 62.4 percent (including the 2 percent general partner interest) of Delek Logistics Partners, LP. Delek Logistics Partners, LP is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets.
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.