Delek Logistics Increases Quarterly Cash Distribution to $0.975

Source: www.gulfoilandgas.com 1/21/2022, Location: North America

Delek Logistics Partners, LP declared its quarterly cash distribution for the fourth quarter 2021 of $0.975 per common limited partner unit, or $3.90 per common limited partner unit on an annualized basis. This distribution represents a 2.6 percent increase from the distribution for the third quarter 2021 of $0.95 per common limited partner unit ($3.80 per common limited partner unit annualized) and a 7.1 percent increase over Delek Logistics' distribution for the fourth quarter 2020 of $0.91 per common limited partner unit ($3.64 per common limited partner unit annualized). The fourth quarter 2021 cash distribution is payable on February 8, 2022 to unitholders of record on February 1, 2022.

"This sustains a consistent quarterly increase in the cash distribution since the fourth quarter 2012 and demonstrates stability of the DKL business throughout various business cycles. Energy sentiment is improving with elevated underlying commodity prices and margins helping to incentivize strong utilization rates. Delek US has no major turnaround activity planned in refining in 2022, paving the way for strong volumes throughout the DKL system," said Uzi Yemin, Chairman, President and Chief Executive Officer of Delek Logistics.


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