As of June 30, 2012, Delek US had a record cash balance of $321.1 million and total debt of $422.8 million. During the second quarter the Company was able to reduce its net debt to $101.7 million as of June 30, 2012 compared to $310.9 million as of June 30, 2011.Yemin concluded, “Several recent positive developments demonstrate the strength of our businesses and the execution of our strategic initiatives. First, we announced our third special dividend during the last 14 months. Second, we filed a registration statement for the initial public offering of our logistics assets. Finally, we completed both of our previously announced 'quick hit' projects on time and under budget. Both the LSR project at El Dorado and the VTB project at our Tyler refinery were completed in July and should deliver incremental cash flows in the future. With improved crude and feedstock flexibility in our refining system, support of rail supplied crude and continued increase in demand for our products, our outlook remains positive and we are excited about our opportunities to deliver additional value to our shareholders in the near and mid-term future.”
Delek US Holdings Reports Record Second Quarter 2012 Net Income
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