HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) announced
today that its Board of Directors declared a regular quarterly
dividend of $0.50 per share, an increase of $0.05 from the previous
dividend of $0.45 per share. This dividend represents an 11%
increase from the prior quarter and will be paid on March 5, 2024
to holders of record of common stock on February 26, 2024.
Tim Go, CEO and President of HF Sinclair, commented, “Today’s
11% dividend increase, combined with our share purchase program,
reflects our continued commitment to returning cash to
shareholders.”
About HF Sinclair Corporation
HF Sinclair Corporation, headquartered in Dallas, Texas, is an
independent energy company that produces and markets high-value
light products such as gasoline, diesel fuel, jet fuel, renewable
diesel and other specialty products. HF Sinclair owns and operates
refineries located in Kansas, Oklahoma, New Mexico, Wyoming,
Washington 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. HF Sinclair
supplies high-quality fuels to more than 1,500 branded stations and
licenses the use of the Sinclair brand at more than 300 additional
locations throughout the country. In addition, subsidiaries of HF
Sinclair produce and market base oils and other specialized
lubricants in the U.S., Canada and the Netherlands, and export
products to more than 80 countries. Through its subsidiaries, HF
Sinclair produces renewable diesel at two of its facilities in
Wyoming and also at its facility in Artesia, New Mexico. HF
Sinclair provides petroleum product and crude oil transportation,
terminalling, storage and throughput services to its refineries and
the petroleum industry.
Forward-Looking Statements
The following is a “safe harbor” statement under the Private
Securities Litigation Reform Act of 1995: The statements in this
press release relating to matters that are not historical facts are
“forward-looking statements” based on management’s 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 HF Sinclair’s filings with the Securities and Exchange
Commission (the “SEC”). Forward-looking statements use words such
as “anticipate,” “project,” “will,” “expect,” “plan,” “goal,”
“forecast,” “strategy,” “intend,” “should,” “would,” “could,”
“believe,” “may,” and similar expressions and statements regarding
HF Sinclair’s plans and objectives for future operations. Although
HF Sinclair believes that the expectations reflected in these
forward-looking statements are reasonable, HF Sinclair cannot
assure you that HF Sinclair’s expectations will prove correct.
Therefore, actual outcomes and results could materially differ from
what is expressed, implied or forecast in such statements. Any
differences could be caused by a number of factors, including, but
not limited to, the demand for and supply of feedstocks, crude oil
and refined products, including uncertainty regarding the
increasing societal expectations that companies address climate
change and greenhouse gas emissions, 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 HF Sinclair’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 reductions in demand, accidents,
unexpected leaks or spills, unscheduled shutdowns, infection in the
workforce, weather events, global health events, civil unrest,
expropriation of assets, and other economic, diplomatic,
legislative, or political events or developments, terrorism,
vandalism, cyberattacks, or other catastrophes or disruptions
affecting HF Sinclair’s operations, production facilities,
machinery, pipelines and other logistics assets, equipment, or
information systems, or any of the foregoing of HF Sinclair’s
suppliers, customers, or third-party providers, and any potential
asset impairments resulting from, or the failure to have adequate
insurance coverage for or receive insurance recoveries from, such
actions, the effects of current and/or future governmental and
environmental regulations and policies, including compliance with
existing, new and changing environmental and health and safety laws
and regulations, related reporting requirements and pipeline
integrity programs, the availability and cost of financing to HF
Sinclair, the effectiveness of HF Sinclair’s capital investments
and marketing strategies, HF Sinclair’s efficiency in carrying out
and consummating construction projects, including HF Sinclair’s
ability to complete announced capital projects on time and within
capital guidance, HF Sinclair’s ability to timely obtain or
maintain permits, including those necessary for operations or
capital projects, HF Sinclair’s ability to acquire complementary
assets or businesses to HF Sinclair’s existing assets and
businesses on acceptable terms and to integrate any existing or
future acquired operations and realize the expected synergies of
any such transaction on the expected timeline, the possibility of
vandalism or other disruptive activity, or terrorist or
cyberattacks and the consequences of any such activities or
attacks, uncertainty regarding the effects and duration of global
hostilities, including shipping disruptions in the Red-Sea, the
Israel-Gaza conflict, the Russia-Ukraine war, and any associated
military campaigns which may disrupt crude oil supplies and markets
for HF Sinclair’s refined products and create instability in the
financial markets that could restrict HF Sinclair’s ability to
raise capital, general economic conditions, including economic
slowdowns caused by a local or national recession or other adverse
economic condition, such as periods of increased or prolonged
inflation, limitations on HF Sinclair’s ability to make future
dividend payments or effectuate share repurchases due to market
conditions and corporate, tax, regulatory and other considerations
and other business, financial, operational and legal risks and
uncertainties. Additional information on risks and uncertainties
that could affect the business prospects and performance of HF
Sinclair is provided in the reports filed by HF Sinclair with the
SEC. All forward-looking statements included in this press release
are expressly qualified in their entirety by the foregoing
cautionary statements. The forward-looking statements speak only as
of the date made and, other than as required by law, HF Sinclair
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/20240214758983/en/
HF Sinclair Corporation Craig Biery, 214-954-6510 Vice
President, Investor Relations or Trey Schonter, 214-954-6510 Sr.
Manager, Investor Relations
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