Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $1.07 per Common Limited Partner Unit
April 25 2024 - 5:13PM
Business Wire
Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”)
today declared its quarterly cash distribution for the first
quarter 2024 of $1.07 per common limited partner unit, or $4.28 per
common limited partner unit on an annualized basis. This
distribution represents a 4.4 percent increase over Delek
Logistics’ distribution for the first quarter 2023 of $1.025 per
common limited partner unit ($4.10 per common limited partner unit
annualized). The first quarter 2024 cash distribution is payable on
May 15, 2024, to unitholders of record on May 8, 2024.
Delek Logistics is also filing a “shelf” registration statement
on Form S-3 with the U.S. Securities and Exchange Commission
(“SEC”) to provide up to $500 million of additional financial
flexibility going forward.
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership
headquartered in Brentwood, Tennessee. Through its owned assets and
joint ventures located primarily in and around the Permian Basin,
the Delaware Basin and other select areas in the Gulf Coast region,
Delek Logistics provides gathering, pipeline, transportation, and
other services for its customers in crude oil, intermediates,
refined products, natural gas, storage, wholesale marketing,
terminalling water disposal and recycling.
Delek US Holdings, Inc. (NYSE: DK) ("Delek US") owns the general
partner interest as well as a majority limited partner interest in
Delek Logistics and is also a significant customer.
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 future distributions,
including the amounts and timing thereof, current estimates,
expectations or projections about future distributions, future
financial flexibility, results, performance, prospects,
opportunities, plans, actions and events and other statements,
concerns, or matters that are not historical facts are
"forward-looking statements," within the meaning of federal
securities laws. Forward-looking statements should not be read as a
guarantee of future performance or results and may not be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
information available at the time and/or management's good faith
belief with respect to future events, and investors are cautioned
that risks described in Delek Logistics’ filings with the United
States Securities and Exchange Commission, among others, could
cause actual performance or results to differ materially from those
expressed in the statements. There can be no assurance that actual
results will not differ from those expected by management or
described in forward-looking statements. 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.
Tax Considerations
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
Logistics 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 Logistics Partners, LP, are treated as the
withholding agents responsible for withholding on the distributions
received by them on behalf of foreign investors.
Information about Delek Logistics Partners, LP can be found on
its website (www.deleklogistics.com), investor relations webpage
(https://www.deleklogistics.com/investor-relations), news webpage
(https://www.deleklogistics.com/news-releases) and its Twitter
account (@DelekLogistics).
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version on businesswire.com: https://www.businesswire.com/news/home/20240425118451/en/
Investor Relations and Media/Public Affairs Contact: Rosy
Zuklic, Vice President of Investor Relations and Market
Intelligence investor.relations@delekus.com;
rosy.zuklic@delekus.com 615-767-4344
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