Delek US Holdings Declares Special Cash Dividend And Reduces Debt
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
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.