HollyFrontier Corporation Announces Regular Cash Dividend
February 17 2021 - 3:30PM
Business Wire
HollyFrontier Corporation (NYSE: HFC) ("HollyFrontier")
announced today that its Board of Directors declared a regular
quarterly dividend in the amount of $0.35 per share, payable on
March 10, 2021 to holders of record of common stock on March 1,
2021.
About HollyFrontier Corporation:
HollyFrontier Corporation, headquartered in Dallas, Texas, is an
independent petroleum refiner and marketer that produces high value
light products such as gasoline, diesel fuel, jet fuel and other
specialty products. HollyFrontier owns and operates refineries
located in Kansas, Oklahoma, New Mexico and Utah and markets its
refined products principally in the Southwest U.S., the Rocky
Mountains extending into the Pacific Northwest and in other
neighboring Plains states. In addition, HollyFrontier produces base
oils and other specialized lubricants in the U.S., Canada and the
Netherlands, and exports products to more than 80 countries.
HollyFrontier also owns a 57% limited partner interest and a
non-economic general partner interest in Holly Energy Partners,
L.P., a master limited partnership that provides petroleum product
and crude oil transportation, terminalling, storage and throughput
services to the petroleum industry, including HollyFrontier
Corporation subsidiaries.
HFC Forward Looking Statement:
The statements contained herein relating to matters that are not
historical facts are "forward-looking statements" within the
meaning of the federal securities laws. These statements are based
on our beliefs and assumptions using currently available
information and expectations as of the date hereof, are not
guarantees of future performance and involve certain risks and
uncertainties, including those contained in our filings with the
Securities and Exchange Commission. Although we believe that such
expectations reflected in such forward-looking statements are
reasonable, we cannot give assurance that our expectations will
prove to be correct. Therefore, actual outcomes and results could
materially differ from what is expressed, implied or forecast in
these statements. Any differences could be caused by a number of
factors including, but not limited to:
- the extraordinary market environment and effects of the
COVID-19 pandemic, including a significant decline in demand for
refined petroleum products in markets HollyFrontier serves as
compared to demand prior to the pandemic;
- risks and uncertainties with respect to the actions of actual
or potential competitive suppliers and transporters of refined
petroleum products or lubricant and specialty products in
HollyFrontier's markets;
- the spread between market prices for refined products and
market prices for crude oil;
- the possibility of constraints on the transportation of refined
products or lubricant and specialty products;
- the possibility of inefficiencies, curtailments or shutdowns in
refinery operations or pipelines, whether due to infection in the
workforce or in response to reductions in demand;
- effects of governmental and environmental regulations and
policies, including the effects of current restrictions on various
commercial and economic activities in response to the COVID-19
pandemic;
- the availability and cost of financing to HollyFrontier;
- the effectiveness of HollyFrontier's capital investments and
marketing strategies;
- HollyFrontier's efficiency in carrying out and consummating
construction projects, including the ability to complete announced
capital projects, such as the conversion of the Cheyenne refinery
to a renewable diesel facility and the construction of the Artesia
renewable diesel unit and pretreatment unit, on time and within
budget;
- the ability to timely obtain or maintain permits, including
those necessary for operations or capital projects;
- the ability of HollyFrontier to acquire refined or lubricant
product operations or pipeline and terminal operations on
acceptable terms and to integrate any existing or future acquired
operations;
- the possibility of terrorist or cyber attacks and the
consequences of any such attacks;
- general economic conditions, including uncertainty regarding
the timing, pace and extent of an economic recovery in the United
States;
- prolonged decline in our financial condition, restrictions in
our debt agreements or certain legal requirements, which could
result in our inability to declare future dividends;
- continued deterioration in gross margins or a prolonged
economic slowdown due to the COVID-19 pandemic could result in an
impairment of goodwill and / or additional long-lived asset
impairments; and
- other financial, operational and legal risks and uncertainties
detailed from time to time in HollyFrontier's Securities and
Exchange Commission filings.
The forward-looking statements speak only as of the date made
and, other than as required by law, HollyFrontier undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210217005918/en/
HollyFrontier Corporation Craig Biery, 214-954-6510 Vice
President, Investor Relations or Trey Schonter, 214-954-6510
Investor Relations
HollyFrontier (NYSE:HFC)
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