BRENTWOOD, Tenn., Jan. 21, 2022 /PRNewswire/ -- Delek Logistics
Partners, LP (NYSE: DKL) ("Delek Logistics") today 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.
About Delek Logistics Partners, LP
Delek Logistics
Partners, LP, headquartered in Brentwood,
Tennessee, was formed by Delek US Holdings, Inc. (NYSE: DK)
("Delek US") to own, operate, acquire and construct crude oil and
refined products logistics and marketing assets.
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 regarding Delek
Logistics' future distributions, including the amounts and timing
thereof, utilization rates and other statements concerning current
estimates, expectations and projections about future 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. Investors are cautioned that the following
important factors, among others, may affect these forward-looking
statements: the fact that a substantial majority of Delek
Logistics' contribution margin is derived from Delek US, thereby
subjecting it to Delek US' business risks; risks and uncertainties
related to the effects of the COVID-19 pandemic; risks and costs
relating to the maintenance age and operational hazards of our
assets including, without limitation, costs, penalties, regulatory
or legal actions and other effects related to releases, spills and
other hazards inherent in transporting and storing crude oil and
intermediate and finished petroleum products; the impact of adverse
market conditions affecting the business of Delek Logistics,
including margins generated by its wholesale fuel business; adverse
changes in laws including with respect to tax and regulatory
matters and other risks as disclosed in our annual report on Form
10-K, quarterly reports on Form 10-Q and other reports and filings
with the United States Securities and Exchange Commission.
Forward-looking statements are based on information available at
the time and/or management's good faith belief with respect to
future events, and are subject to risks and uncertainties that
could cause actual 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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SOURCE Delek Logistics