Increases quarterly distribution to $0.6325 per unit from $0.6200 per
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has
declared a cash distribution of $0.6325 per unit for the second quarter
of 2017, an 8.1% increase compared to the $0.5850 per unit distribution
declared for the second quarter of 2016. Today's distribution,
reflective of the company's strong and stable cash generation,
represents an acceleration in year over year distribution growth and
exceeds Holly Energy's 8% distribution growth target. Holly Energy has
increased its distribution to unitholders every quarter since becoming a
publicly-traded partnership in July 2004, with today's distribution
marking the 51st consecutive quarterly distribution increase.
The distribution will be paid on August 14, 2017 to unitholders of
record on August 7, 2017.
Holly Energy plans to announce results for its second quarter of 2017 on
August 1, 2017 before the opening of trading on the NYSE. The
Partnership has scheduled a webcast at 4 p.m. Eastern time that day to
discuss financial results.
The webcast may be accessed at: https://event.webcasts.com/starthere.jsp?ei=1154339&tp_key=7f676d554d
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides
petroleum product and crude oil transportation, terminalling, storage
and throughput services to the petroleum industry, including
HollyFrontier Corporation subsidiaries. The Partnership, through its
subsidiaries and joint ventures, owns and/or operates petroleum product
and crude gathering pipelines, tankage and terminals in Texas, New
Mexico, Arizona, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and
Kansas as well as refinery processing units in Kansas and Utah.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Please note that one hundred percent
(100.0%) of Holly Energy Partner's distributions to foreign investors
are attributable to income that is effectively connected with a United
States trade or business. Accordingly, Holly Energy Partner's
distributions to foreign investors are subject to federal income tax
withholding at the highest applicable effective tax rate.
The statements in this press release 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 and those of our general partner using currently
available information and expectations as of the date hereof, are not
guarantees of future performance and involve certain risks and
uncertainties. Although we and our general partner believe that such
expectations reflected in such forward-looking statements are
reasonable, neither we nor our general partner can 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:
risks and uncertainties with respect to the actual quantities of
petroleum products and crude oil shipped on our pipelines and/or
terminalled, stored and throughput in our terminals;
the economic viability of HollyFrontier Corporation, Alon USA, Inc.
and our other customers;
the demand for refined petroleum products in markets we serve;
our ability to purchase and integrate future acquired operations;
our ability to complete previously announced or contemplated
the availability and cost of additional debt and equity financing;
the possibility of reductions in production or shutdowns at refineries
utilizing our pipeline and terminal facilities;
the effects of current and future government regulations and policies;
our operational efficiency in carrying out routine operations and
capital construction projects;
the possibility of terrorist attacks and the consequences of any such
general economic conditions; and
other financial, operations and legal risks and uncertainties detailed
from time to time in our Securities and Exchange Commission filings.
The forward-looking statements speak only as of the date made and, other
than as required by law, we undertake no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170727006442/en/
Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Jared Harding, 214-954-6511
Source: Holly Energy Partners, L.P.
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