NEW YORK ( TheStreet) -- Many income investors want to invest in companies that treat shareholders with special consideration and have the earnings to back up its intentions.HollyFrontier ( HFC) fits that description and can deliver the "goods" for both its customers and shareholders. After the merger of Holly and Frontier two years ago, the Dallas-based company now operates six refineries in Kansas, New Mexico, Oklahoma and Wyoming. It has the capacity to refine 443,000 barrels of crude per day. Its refineries are well-situated to buy the lowest priced oil produced in the rich energy fields of North Dakota, the Rocky Mountain region and West Texas, the home of West Texas sweet light crude (WTI). Although the oil refining business increases profitability by buying WTI at lower prices than the Brent International (BI) price-per-barrel, the spread between WTI and BI has narrowed to just a few dollars. That's put the profit squeeze on big refiners like Marathon Petroleum ( MPC) and Phillips 66 ( PSX) causing the stocks prices to pull back in recent months. Profit estimates for HFC have also shrunk and the share price has retreated from the 52-week high of $59.20 to as low as $39.11 on July 3. Some have wondered if HFC can continue to offer its surprisingly high dividend yield. Its dividend yield consists of a quarterly regular dividend of 30 cents per share. But to boost the "octane" HFC also has been giving shareholders a special quarterly bonus of 50 cents per share. Add those up and you have an annual dividend of $3.20. At a $45 share price that gives HFC a total annual dividend yield of 7.11%. This seems incredible when one considers that MPC's annual dividend offers only a 1.95% dividend and PSX's is 2.13%. All three refiners will report quarterly earnings soon. PSX reports on Wednesday, MPC on Thursday and HFC reports before the markets open on Aug. 7. All three companies have lowered revenue and sales profit guidance in light of the enormous narrowing of the spread between WTI and BI.